Baya financial work with a panel of Lenders who can fund both the purchase of a property and refurbishment projects. This can help cashflow if costs are high and you don’t have all the money available. We, typically, see this in larger projects or where there is a heavy refurbishment.

With some projects, we are able to secure refurbishment costs fully in advance. We would use this facility with light refurbishments on residential property. This can assist with cashflow and, potentially, speed up the delivery time of the project.

Heavy refurbishment projects are becoming more popular, particularly with HMO conversions and commercial to residential developments.  The lender market is responding to this with more flexible facilities.  Some lenders will provide finance for 100% of the costs of works where the loan to value percentage (LTV) is within their policy criteria. Funds for the works are released upon receipt of your invoices, but this means that you will need some seed capital to start the project.

Some examples of typical types of projects:

  • Conversions from commercial to residential using prior approval or permitted development
  • Conversions to HMOs
  • Reconfiguration of properties, for example changing the layout or splitting properties into more than one unit

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