what is property conversion?

If you’re looking to carry out structural works to an investment property, a short-term loan from MT Finance could help.

Our heavy refurb product is designed to help property investors and developers fund their renovation, with speed and with minimum fuss. What’s more, we can also provide 100% of the build costs in stages to keep your costs down.

Borrowers can apply as individuals or through limited companies and we will also consider all credit histories, including borrowers with CCJs and a history of arrears. We do not require evidence of trading history, accounts, or proof of income- instead, we are more focussed on the investment property and your future plans for it.

product features:

  • 1st & 2nd charge loans
  • Loans from £50,000 – £10,000,000
  • Up to 65% LTV
  • Terms from 1-24 months
  • Residential, commercial & semi-commercial property
  • Further draw-downs available
  • Up to 100% cost of work available
  • No up-front fees, no exit fees, no ERCs
  • No credit scoring

With no up-front fees, early repayment charges or exit fees, MT Finance is here to work with you to complete your investment property conversion in a matter of days.

To find out more about how a short-term loan could help fund your investment property conversion, or if you have a project you wish to discuss, contact one of our short-term loan experts today on 0203 051 2331 or fill in our contact form and someone will be in touch with you shortly.

acceptable conversions

It is a requirement that on all loans full planning permission and/or building regulation consent has been obtained. Where work has commenced planning permission must be evidenced.

Provided there is an existing structure that will remain, and is in wind and watertight condition, we will consider the following transactions:

  • Conversion of a commercial property into a residential property- i.e. small office block into flats, warehouses or pubs into a residential property
  • Conversion of a single residence into multiple flats, and vice-versa
  • Completion of an existing ground-up development- i.e. you have reached a wind and watertight stage (late Phase II/ early Phase III) but require funds to complete
  • Outbuilding and barn conversions- i.e. existing outbuildings being converted into holiday cottages/investment properties
  • Extensions or loft conversions to existing residential properties- i.e. increasing usable floor space, creating additional rooms
  • Basement digs

how can a short-term loan help?

Where there are structural changes to the property, and planning permission or building regulations are required, a short-term loan could allow you to renovate property for a quick turnaround.

The biggest selling points of a short-term compared to mainstream lending are speed and flexibility. MT Finance is often able to make lending decisions within hours of initial enquiry and release funds in less than two weeks, preventing property investors and developers from missing out on time-sensitive opportunities that come their way.

Each application will be individually assessed depending on the type of the property, your experience, and the viability of your exit. It is a requirement with all short-term loans that you have a viable exit strategy. The most common exit strategies are to refinance the property through a buy-to-let lender or the sale of the property.