With immediate effect, the maximum one-day LTV on refurbishment loans has been increased from 70% to 75%.

This change brings such heavy refurbishment loans in line with HTB’s standard bridging range.

In addition, for loans with LTGDV of 65% or less, HTB will now fund refurbishment costs of up to 100% of the property’s day one value.

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Andrea Glasgow, sales director of specialist mortgages and bridging at HTB (pictured above), said the product changes had been made in direct response to brokers’ demand for greater flexibility.

“These updates give them exactly that without losing the control and structure HTB is known for,” said Andrea.

“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.”