Bank of Cyprus UK launches light refurb loan

The loan allows property investors and landlords to increase their potential income and make the most of their investment opportunity by borrowing funds to purchase a property and make non-structural refurbishment changes. Property investors and landlords with commercial properties in London and residential properties in London, the South East, Birmingham and Bristol are eligible for the loan.

The cost of the refurbishment work (e.g. the value of the loan) can be a maximum of 15% of the initial valuation or purchase price of the property (whichever is lower). Once the refurbishment is complete, those who are looking to refinance their property with a Bank of Cyprus UK property investment loan, can benefit from a reduced arrangement fee equal to 0.25% of the loan amount refinanced.

Lakis Kasapis, Head of Banking North London at Bank of Cyprus UK said:

“We are confident that our Light Refurbishment Loan will offer a vital helping hand for property investors and landlords.  This product has been designed to help them invest in property or to grow their investment portfolios. Adding this new loan to our growing product range demonstrates our ongoing commitment to providing our customers with the funding that they need to maximise their property investment opportunities.”