The lender is introducing a faster application process for its refurbishment products, with borrowers able to choose different funding options from the start.

These will include receiving build costs upfront, at practical completion or via drawdowns during the project.

According to Avamore, this will eliminate the need for a monitoring surveyor for refurbishments that do not require planning permission or that don’t involve structural changes.

Refurbishments including the latter can still be considered for refurbishment products that do not charge an exit fee.

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This is designed to streamline the application process to three to four weeks and eliminate monitoring surveyor fees.

Adam Butler, head of sales and marketing at Avamore (pictured above), said: “With these improvements, we can now offer leverage that is as strong as anyone in the market, at a competitive price and the ability to complete quickly.

“We have always had no restrictions on the size of build costs, sq ft expansion or new build elements.

“Now we are able to fund the build facility upfront, at practical completion or in drawdowns giving clients significant savings on fees and interest.”