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Oblix rejigs refurbishment bridge product

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  • 19/06/2019
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Oblix rejigs refurbishment bridge product
Oblix Capital has revamped its refurbishment bridge loan, by allowing the market value to be updated at the point of building control sign off.

 

The change means that if the market value has increased at that point, the 75 per cent maximum loan to value (LTV) will be re-applied to the revised valuation, subject to underwriting.

This may mean the borrower can then borrow a greater amount, while the loan term can be extended for a further 12 months at this point.

Andy Reid, director of sales at Oblix, said the new feature would provide borrowers with more flexibility and options.

He continued: “It’s a great example of how Oblix Capital is using its experience and understanding of the market to offer creative real estate lending solutions.”

 

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