Hampshire Trust Bank (HTB) has updated its heavy refurbishment bridging offer, providing more flexibility for brokers to manage complex cases.
The changes include an increase in the maximum day one loan-to-value (LTV) from 70% to 75%, aligning heavy refurbishment with HTB’s standard bridging range.
Additionally, if the loan-to-gross-development-value (LTGDV) is 65% or below, HTB can now cover refurbishment costs up to 100% of the property’s day one value.
This allows brokers to tackle ambitious projects, such as conversions or extensions, with increased financial assurance.
The product still offers staged drawdowns in arrears, verification by an asset manager, and no exit fees.
Andrea Glasgow (pictured), sales director for specialist mortgages and bridging, said: “Brokers are telling us they need more flexible funding options, especially when their clients are taking on more ambitious refurbishment projects.
“These updates give them exactly that without losing the control and structure HTB is known for.
“We’ve deliberately built this product to support complex property strategies, from permitted development and commercial-to-residential conversions to heavy internal reconfiguration.”
“It’s a product that gives brokers options and gives their clients the confidence to push ahead.”
Alex Upton, managing director for specialist mortgages and bridging, said: “HTB’s strength in refurbishment lending lies in our ability to back the right deals with speed and certainty.
“We understand the complexities of these projects, we know how to structure the right solution, and brokers trust us to deliver.
“These enhancements reflect our confidence in the product and our belief in the specialist lending market.”
Upton added: “As refurbishment continues to play a key role in investors’ long-term strategies, particularly as projects become more complex and varied, we remain focused on supporting brokers with consistent decision-making and solutions that go beyond the basics.”
