Seneca Bridging funds quick turnaround refurbishment finance project

Funded:

£480,000

Location:

South East

Property Type:

Residential

Funding:

Refurbishment Loan

The Project

Seneca was approached regarding a client who was looking to refurbish a two-storey duplex apartment in the Battersea area of London.

The Approach

The total facility requested was £480,000 to refinance the existing debt on the property and additional funds for the refurbishment works.

The Outcome

The loan completed within just 3 weeks from the initial application, a seamless process from all parties leaving the client very happy and ready to start the project.

Refurbishment Loans – Key Features

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  • Loan Size: From £100,000 to £2.5 million, with flexibility for more complex projects.
  • Term Length: Up to 18 months, giving you time to complete works and exit.
  • Market Leading Loan-to-Value (LTV): Up to 75% of post-works value (GDV) based on a 180-day VP valuation.
  • Interest: Rolled up and paid at the end of the term—preserving your working capital.
  • Security: Requires a first legal charge on the subject property.
  • Exit Strategy: Must be clear—either via refinance or sale post-refurb.
  • Transparent Fees: Arrangement and exit fees from 1%, no early repayment penalties, no unnecessary admin charges.
  • QS Monitoring Costs: Only for complex schemes (Seneca does not add internal monitoring fees), no QS required if refurb cost is sub £50k and works are non-structural.
  • Desktop Valuations Considered: Desktop valuations also considered if works are sub £50k (property value up to £300k).
  • Unregulated Product: these Bridging loans are not FCA-regulated, they are not available for owner-occupied residential properties.
Learn more about our Refurbishment Loans

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