Impact Specialist Finance launches refurb deal with Castle Trust

The semi-exclusive product is only available through a select group of distributors including Impact Specialist Finance. 

The product is up to net 80 per cent loan to value (LTV) and has a rate of 0.85 per cent. Terms of six to 12 months are available for light refurbishment or nine to 18 months for heavy refurbishment. Rolled up interest applies and there are no early repayment charges. 

Title insurance is used on the product for faster transactions and the state pricing applies to loans between £200,000 and £5m. Loans of over £5m will have bespoke rates and will only be available on residential properties with a 2.25 per cent arrangement fee. 

Dale Jannels, 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. 

“Our light refurbishment product is available for works that fall under permitted development, works that require building regulation sign-off, residential to houses in multiple occupation (HMO) conversions up to six tenants, replacement windows, decoration, light central heating and electrical work, internal reconfiguration, full rewiring, and installation of new bathrooms and kitchens. While our heavy refurbishment product can be used where planning permission is necessary, although not on ground-up developments.”