Hampshire Trust Bank (HTB) has introduced improvements to its heavy refurbishment bridging product, in a move aimed at supporting brokers with more flexible solutions for increasingly complex property projects.
The changes, which take immediate effect, include an increase in the maximum Day 1 loan-to-value from 70% to 75%, bringing the heavy refurbishment product in line with the bank’s standard bridging range.
HTB will also now fund refurbishment costs up to 100% of a property’s Day 1 value, provided the loan-to-gross-development-value ratio does not exceed 65%.
The enhancements are designed to give brokers greater freedom to structure ambitious projects such as permitted development conversions, commercial-to-residential schemes, and substantial internal reconfigurations, while maintaining control and confidence in the underwriting process.
Andrea Glasgow (pictured), sales director – specialist mortgages and bridging, said the changes were a direct response to broker demand. “Brokers are telling us they need more flexible funding options, especially when their clients are taking on more ambitious refurbishment projects. These updates give them exactly that without losing the control and structure HTB is known for.
“We’ve deliberately built this product to support complex property strategies, from permitted development and commercial-to-residential conversions to heavy internal reconfiguration. It’s a product that gives brokers options and gives their clients the confidence to push ahead.”
The product continues to offer staged drawdowns in arrears, milestone verification by an asset manager, and no exit fees. HTB also provides direct access to underwriters.
Alex Upton, managing director – specialist mortgages and bridging, said the updated proposition reflects the bank’s belief in the strength and resilience of the specialist market.
“HTB’s strength in refurbishment lending lies in our ability to back the right deals with speed and certainty. We understand the complexities of these projects, we know how to structure the right solution, and brokers trust us to deliver,” she said.
“These enhancements reflect our confidence in the product and our belief in the specialist lending market. As refurbishment continues to play a key role in investors’ long-term strategies, particularly as projects become more complex and varied, we remain focused on supporting brokers with consistent decision-making and solutions that go beyond the basics.”
