Refurbishment Loan Lenders and Adverse Credit

If you’re looking for a refurbishment loan to exit development funding and have a history of adverse credit, lenders may inquire about your options for remortgaging. This is part of their assessment to understand your exit strategy for the loan, especially if the plan involves refinancing the property after refurbishment.

It is common for developers to run out of time on their development finance facility and might be looking for a “finish and exit” product, whilst these lenders are also happy with adverse credit for sale exits, they might not be so keen with adverse credit for remortgage exits. Finish and exit products are used for the remainder of the phase 2 works on a development, more information on this product can be found on our Development Exit page.

Developer exit products will fund up to 75% LTV against the value of the site, which in some cases could be 95% completed and therefore could be quite flexible.