mtf launches new heavy refurb range
Gareth Lewis

mtf launches new heavy refurb range

Short-term lender mtf has introduced a new heavy refurb range with reduced rates.

The heavy refurb bridging products will be available from 0.8% on LTVs of up to 70% of the open market value.

The range has been designed to cater for the increase in demand from borrowers wishing to add value to their property by undertaking refurbishment works. 

First and second charge applications are accepted, both with up to 24-month loan terms and no exit fees or early repayment penalties. 

Borrowers will also be able to apply as individuals or through limited companies and the types of heavy refurbishment accepted include basement digs, loft conversions, completing a development product and commercial conversions to residential.

In addition, the lender is simplifying its pricing and has dropped rates across its entire range – they now start from 0.75% on both its first and second charge bridging loans.

Gareth Lewis, commercial director at mtf (pictured above), said it had been consistently improving and streamlining its processes to offer borrower-friendly, fuss-free products.

“Having listened to feedback from broker partners, we have created these new products to help property investors and developers access the finance they need, with speed and with [the] minimum fuss.

"Property investors and developers are integral to the UK housing market, so it is vital they get the support they need so they can continue to provide supply to meet the ever-constant demand.

“At mtf, we are dedicated to supporting property investors and developers with the funding they require through our range of first and second charge bridging loan products.”

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