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REFURBISHMENT - CHANGE OF USE

A house th a large window and a try in front of it

A Short-Term Loan for Refurbishment – Change of Use is a temporary financing solution for renovating a property to change its purpose, like converting a commercial space into a residential unit. This loan supports the transformation process, covering costs like renovations, regulatory compliance, and potential income loss during refurbishment. With a typical duration of one to three years, it offers quick access to funds for projects with a change of use objective. Interest rates may be higher, reflecting the short-term nature and potential complexities of altering the property's purpose.

WHAT IS A SHORT-TERM LOAN FOR REFURBISHMENT – CHANGE OF USE

NO UPFRONT FEES

NO BROKER FEES

Key benefits of short term Refurbishment - Change of Use finance:

LOAN PURPOSE & SCOPE

  • Refurbish for change of property use

  • Cover renovation and compliance costs

  • Address potential income loss during transformation

  • Tailored for short-term renovation projects

LOAN DURATION & TERMS

  • Typically one to three years

  • Quick access to funds for urgency

  • Higher interest rates due to short-term nature

ELIGIBILITY & APPLICABILITY

  • Suitable for commercial to residential conversions

  • Addresses complexities of changing property use

  • Provide financial support during the transformation

Experienced. Trustworthy. Tailored.

Clever Commercial is an award-winning brokerage with over 30 years expertise in providing bespoke property financing solutions. Competitive rates, flexible criteria, and unrivalled service. Build your future - partner with us.

WHY CHOOSE CLEVER COMMERCIAL?

FREQUENTLY ASKED QUESTIONS

What is a short-term loan for refurbishment – change of use?

It's a temporary loan designed to renovate a property to change its purpose, such as converting a commercial space into residential units. It covers refurbishment costs and potential income loss during the transformation.

How does loan duration impact refurbishment projects?

Short-term loans for refurbishment typically have durations of one to three years. The timeframe is chosen to align with the project's scope, providing quick access to funds for the necessary changes.

Can I use this loan for commercial to residential conversions?

Yes, these loans are suitable for changing the use of a property, including commercial to residential conversions. Funding can cover renovations, compliance with regulations, and any income loss during the transition.

Are interest rates higher for short-term refurbishment loans?

Yes, interest rates may be higher due to the short-term nature and potential complexities of refurbishing a property. The convenience and quick access to funds for the transformation are critical factors in the interest rate.

CONTACT DETAILS

Email:

enquiries@clevercommercial.co.uk

Telephone Number:

01981 250511

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