Impact Specialist Finance, the specialist packager and distributor, has announced the launch of a new semi-exclusive light and heavy refurbishment bridging product with Castle Trust Bank, available at a net 80% loan-to-value (LTV).
This product is exclusively accessible through a select group of distributors, including Impact Specialist Finance.
The new offering is designed for clients looking to update or renovate properties, featuring a market-leading 0.85% rate, terms of 6-12 months for light refurbishment and 9-18 months for heavy refurbishment, rolled-up interest, no early repayment charges (minimum interest of three months), and a Day One fully underwritten decision in principle (DIP). Title insurance is utilised to expedite transactions.
Pricing applies to loans between £200k and £5m, with loans over £5m subject to bespoke pricing. The product is available for residential properties only and includes a 2.25% arrangement fee.
Dale Jannels (pictured), managing director at Impact Specialist Finance, said: “With the proposed EPC changes on the horizon, along with increased pressures on yields, the demand from property investors to improve existing stock, plus refurb new acquisitions will remain high for the foreseeable future.
“These new options from Castle Trust Bank are a welcome addition to the market, and we are delighted to be chosen as one of the distribution partners.”
Anna Lewis, commercial director at Castle Trust Bank, added: “We’re delighted to work with Impact Specialist Finance as one of our distribution partners for these semi-exclusive products, which build on some of the most popular parts of our proposition, by offering them at very special rates.”
The light and heavy refurbishment bridging products are supported by dedicated sales, underwriting, and processing teams. Net LTV calculations allow fees and interest to be added to the loan above the maximum 80% LTV, providing investors with increased leverage in a challenging environment.
