Keystone Property Finance has introduced a “refurb to let” range to meet broker and borrower demand for refurbishment finance.

The firm’s new range provides short-term finance for landlords carrying out light refurb works before giving them the option of switching onto a longer-term refurb exit fixed rate, once the works have concluded.

Keystone’s refurb to let loan has a maximum term of six months, with a minimum loan of £100,000, and allows landlords to carry out works such as installing a new kitchen or converting a standard property into an HMO with up to six occupants.

To speed up access to funds, Keystone offers streamlined underwriting for the light refurbishment part of the application and also uses title insurance to speed up the legal process.

“We’re excited to enter a new area of lending with the launch of our first-ever refurb to let range,” commented managing director of Keystone Property Finance, Elise Coole. “Demand for this type of finance is soaring, as more landlords look to boost yields by converting properties into small HMOs or upgrading tired stock.

“Brokers told us they needed a product for exactly this reason – so we built one. We’ve designed the range to be fast, flexible and simple – with streamlined underwriting, the choice to roll up or service interest and a clear path to longer-term finance.”

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