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Specialist Lending

Are you planning to make a property investment or need specialist finance?

Understanding the types of specialist lending, such as Bridging Finance, Development Finance, Commercial Finance, Refurbishment Mortgages, and Build-Loan Mortgages could be crucial to your financial strategy.

Bridging Finance is a short-term loan that can bridge the gap when you require immediate funds. On the other hand, Development Finance is designed for property developers to fund large-scale projects.

Commercial finance is a broad term that covers all business loans that can be tailored to suit your company's specific needs.

Refurbishment Mortgages are ideal for properties that require renovation before they can be rented or sold.

Lastly, Build Loan Mortgages are perfect for those who wish to build their dream home from the ground up. Understanding these specialist lending options can help you make the best financial decisions for your needs.

Development Finance

Development finance is pivotal for developers and builders in the UK property market. It's about securing project funding and bringing visions to life. Whether it's a new housing development or a commercial property venture, having access to the proper development finance can be the key to success. With the UK property market constantly evolving and growing, developers must stay ahead and ensure they have the necessary funding to seize opportunities.

Prosper Home Loans has enormous knowledge in this area. By partnering with experienced lenders who understand the property market, developers can access competitive rates and flexible terms that suit their needs. Development finance offers a tailored solution for land acquisition, construction costs, or refinancing existing debt, helping developers achieve their goals and drive growth in the property market. Could you speak to one of our specialists and see if we can help you with the development finance for your new project?

An example of Development Finance recently obtained for a client: the opportunity to purchase a piece of land in an open farmland, which had outlined planning permission to build five detached four-bedroom houses. The client wanted to change the plan to develop five eco houses, each property having a 30 KW solar roof and battery storage. The gross development value was £5M. At Prosper, we discussed the options with potential lenders to obtain our client's best rates and terms.

Commercial Finance

Commercial finance is essential for businesses and investors looking to grow and expand their operations. Whether you want to purchase a new office space, expand your shop, buy an industrial unit or invest in a hotel or nursing home, commercial finance can provide the funding needed to make these ventures a reality.

Various types of commercial finance are available to businesses and investors, tailored to suit their specific needs. Commercial finance for shops can help retail companies secure inventory, equipment, and renovation funding. Office finance can assist in acquiring new office space or upgrading existing facilities. Industrial unit finance is designed for businesses that purchase or lease industrial properties.

For investors in the healthcare industry, nursing home finance can provide the funding needed to acquire or expand nursing home facilities. Similarly, hotel finance can help investors secure funding for purchasing or developing hotel properties.

Whether you are a small business owner looking to expand your operations or an investor looking to diversify your portfolio, commercial finance offers a range of options to suit your needs. By exploring the various types of commercial finance available, businesses and investors can find the funding solution that best fits their goals and objectives

An example is a client who wanted to buy his industrial unit from his landlord. The company's income had been low due to the client's investment in refurbishing the unit. The good news is we could demonstrate to the lender that the client had a good payment history. We could include the rent he paid to the landlord to prove the company could afford to pay for the commercial unit. The client now owns the commercial unit and pays a similar payment to the rent he was paying.

Refurbishment BTL Mortgages

The Ultimate Guide to Refurbishing Buy-to-Let Properties

Are you a savvy investor looking to elevate your rental property income? Refurbishing buy-to-let properties might be the game-changer you've been seeking. You can revamp your investment and attract high-quality tenants with the right approach and strategic improvements. In this comprehensive guide, we explore the benefits of refurbishing buy-to-let properties and provide expert tips to help you achieve maximum returns on your investment.

Why Refurbish Buy-to-Let Properties?

Refurbishing buy-to-let properties offers a multitude of benefits for property investors. By renovating and modernizing your rental units, you can enhance their appeal, increase rental income, and attract a wider pool of potential tenants. Additionally, refurbishments can help you command higher rental prices, reduce void periods, and ultimately boost the value of your property. Investing in refurbishments can also improve the overall condition of your property, making it more desirable and marketable in the long run.

Critical Tips for Refurbishing Buy-to-Let Properties:

  1. Define Your Target Market: Before embarking on any refurbishment project, it's crucial to identify your target market. Understanding the needs and preferences of your potential tenants will help you make informed decisions about the type of improvements to make. Whether you're targeting young professionals, families, or students, tailor your refurbishments to appeal to your specific demographic.
  2. Focus on Cost-Effective Upgrades: When refurbishing buy-to-let properties, balancing cost and quality is essential. Opt for cost-effective upgrades that offer a high return on investment, such as fresh paint, modern fixtures, and updated appliances. Simple yet impactful changes can dramatically enhance the look and feel of your property without breaking the bank.
  3. Enhance Curb Appeal: First impressions are everything when attracting tenants. Enhance the curb appeal of your buy-to-let property by refreshing the exterior, maintaining the landscaping, and updating the front door and entryway. A well-maintained exterior will not only attract tenants but also increase the value of your property.
  4. Prioritize Key Areas: When refurbishing buy-to-let properties, focus on critical areas that impact tenants most. Pay special attention to the kitchen and bathroom, as these are often the most important rooms for renters. Modernizing these spaces with new cabinets, countertops, and fittings can significantly increase the rental value of your property.
  5. Stay Compliant: Before undertaking refurbishment work, comply with all relevant building regulations and safety standards. Failure to meet legal requirements can result in costly fines and delays, so staying informed and seeking professional advice when necessary is critical.

By following these expert tips and investing in strategic refurbishments, you can unlock the full potential of your buy-to-let properties and achieve long-term success as a property investor. Refurbishing buy-to-let properties is a wise financial decision and a rewarding opportunity to create desirable, high-quality rental accommodations for tenants. Start refurbishing today and watch your rental income soar to new heights!

An example is a Prosper client wanting to purchase a dilapidated buy-to-let property that would never be rented in its current state and, in turn, unmortgageable.  At Prosper, our advisors researched and arranged a two-pronged process with the same lender—bridging finance paid for the property and this secured ownership. The second process was the property being completely refurbished to a high standard and the bridging loan being converted to a standard mortgage. As the property price had increased due to the refurbishment, we were able to raise further funds so the client could get back all the money he had spent on the refurbishment work that was carried out. This enabled the client to purchase the property and secure a mortgagable asset, which increased in value and received a lending market rent. Call us today and see what we can do for you.

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