The changes to its heavy refurbishment range, which come into effect immediately, include increasing the maximum day one LTV from 70% to 75%. This is in line with the lender’s standard bridging range.
In cases where the loan to gross development value (LTGDV) is 65% or below, HTB can fund refurbishment costs up to 100% of the property’s day one value.
HTB said the updates would give brokers “more flexibility to structure ambitious projects, particularly where clients are converting, extending, or repositioning property, and do so with confidence in the numbers”.
The lender’s heavy refurbishment range still offers staged drawdowns in arrears, milestone verification by an asset manager and no exit fees.
Andrea Glasgow (pictured), sales director for specialist mortgages and bridging at HTB, 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 at HTB, added: “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.
“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.”
