Buy, improve, refinance
The standard investor model: buy below value, add value through works, then refinance onto a buy-to-let mortgage at the improved figure.
Refurbishment finance
Refurbishment bridging loans
Refurbishment bridging funds the purchase of a property that needs work, and often the works themselves, until it can be sold or refinanced onto a term mortgage. Light refurbishment covers cosmetic work; heavy refurbishment covers structural change, extensions and anything needing building regulations or planning.
Whole case packaged for you
Fees disclosed upfront
Brokers, not a lender
Get an indicative quote
Step 2 of 8What’s the bridge for?
This tells us which lenders will look at it.
When it is used
Situations we see most often
Unmortgageable stock
No kitchen, no bathroom, damp or subsidence. Mainstream lenders decline; bridging lenders fund on the basis of what it will become.
Conversions and reconfigurations
Splitting a house into flats, creating an HMO, or changing use — where the value is created by the works, not the market.
Who it suits
- Investors following a buy, refurbish, refinance strategy
- Landlords upgrading properties to meet EPC or licensing requirements
- Developers doing smaller schemes that do not justify a full development facility
- Buyers who have found a property that no high-street lender will touch in its current state
| Typical terms | Indicative range |
|---|---|
| Term | Typically 9 to 18 months, covering works plus the exit |
| Day one loan | Usually up to 75% of the current value |
| Works funding | Often released in arrears against inspected stages |
| Light vs heavy | Heavy refurbishment is priced differently and monitored more closely |
| Exit | Sale, or refinance onto a buy-to-let or commercial mortgage |
| Experience | Lenders price more keenly where you have completed similar schemes |
Indicative ranges based on typical specialist market terms. Your actual terms depend on the property, your circumstances and the lender the case is placed with.
How Amram handles it
What we actually do for you
We are brokers. We do not lend our own money — we package your case and place it with the lender most likely to fund it, then manage it to completion.
The conversation
We look at the property as it is, what you intend to do to it, the cost of the works and the value you expect afterwards.
Packaging
We package the schedule of works, your costings, your track record and the evidence supporting the end value.
Lender sourcing
We approach lenders whose appetite matches the depth of the works — light refurbishment and heavy refurbishment are different markets.
Valuation and legals
We coordinate the valuation, which will usually report both the current value and the value on completion of works.
Completion and exit
Funds release on completion, with any works tranches drawn as stages are signed off. We arrange the exit refinance alongside.
What you’ll need
Have these ready and it moves faster
The single biggest cause of delay is a case assembled as it goes. We will ask for these at the start so the file is lender-ready before it is submitted.
- A costed schedule of works, room by room where possible
- Your build programme, showing how long the works will take
- Photographs of the property in its current condition
- Planning permission or building regulations approval where the works need them
- Evidence of the expected end value — comparable sales or rental appraisals
- Your track record: previous refurbishments, what they cost and what they achieved
Situations
Does one of these sound like you?
Illustrative situations rather than client case studies — the kinds of enquiry this market sees, and what usually works in each.
“The property I bought is unmortgageable in its current state”
No kitchen, no bathroom, structural issues or a short lease — the high street has declined on condition.
What usually works“I want to buy, refurbish and refinance but I do not know how the funding works”
You understand the strategy on paper but not where the money comes from at each stage.
What usually works“My rental property fails the EPC rules and I cannot let it”
The energy rating is too low to let legally, and the upgrade costs more than you have available.
What usually worksQuestions
Frequently asked
What counts as light versus heavy refurbishment?
Broadly, light refurbishment is cosmetic work that does not need planning permission or building regulations — kitchens, bathrooms, decorating, rewiring. Heavy refurbishment involves structural change, extensions, change of use or anything requiring consent. The distinction matters because it changes which lenders will look at the case and how the money is released.
Will the lender fund the works as well as the purchase?
Often yes, but usually in arrears: you fund a stage, the lender inspects it, and then releases that tranche. Budget for that cash flow gap, because it catches people out on their first project.
Can I get a loan against the value after the works?
The day one advance is almost always based on the current value. Some lenders will lend a percentage of the gross development value where the scheme is substantial, but for a standard refurbishment expect the initial loan to be sized against what the property is worth today.
How soon can I refinance onto a buy-to-let mortgage?
Many buy-to-let lenders apply a minimum ownership period, commonly six months, before they will lend against the improved value. Some will consider a shorter period where value has clearly been added. We plan the exit around the specific lender from the start.
What if the works cost more than budgeted?
It happens on most projects. Build a contingency into the schedule from the outset — lenders expect to see one, and its absence is a sign of inexperience. Tell us early if costs are running over; it is much easier to find a solution before the money runs out.
Do I need experience to get refurbishment bridging?
Not for light work. For heavier schemes lenders will want to see either a track record or a credible professional team around you. Either way, experience affects pricing and the loan to value available.
Keep reading
Related pages and guides
Heavy refurbishment
Structural works, extensions and full reconfigurations.
View pageBuy-to-let mortgages
Single properties, HMOs, limited company structures and portfolios.
View pageBridging finance
Short-term funding secured on property, from 1 to 24 months.
View pageBridging vs Development Finance: Which Do You Need?
The real dividing line between a bridge and a development facility, how each is drawn down and priced, and which one your scheme needs.
Read the guideBridging Loan Exit Strategies Explained
Sale, refinance or something else: how lenders underwrite your exit, what evidence they want, and what happens if the exit slips.
Read the guideBridging loan calculator
Work out the gross loan, LTV, interest and every fee before you speak to anyone.
Open the calculatorTalk the deal through
Free deal review by a specialist. We will tell you what is achievable, what it is likely to cost and what the lender will want to see.
Amram Finance Ltd is a credit broker, not a lender. We do not lend our own money and we do not approve or issue loan offers.
Your property may be repossessed if you do not keep up repayments on a loan secured on it. Some forms of bridging finance and buy-to-let lending are not regulated by the Financial Conduct Authority.