Albatross Lending Group has regrouped its refurbishment finance into eight products across three families, with rates from 0.75% per month and loans from £100,000 to £10 million.
The London-based specialist lender, which provides bridging, refurbishment and commercial finance, said broker feedback shaped the refresh. It aims to make the right product easier to identify at the outset and to give a more consistent process from enquiry to completion.
Albatross assesses each case individually, weighing the borrower’s experience, asset quality, the nature of the works and the strength of the overall proposition. Pricing and facility size vary by product and tier. The range is available now to brokers across England and Wales.
Three families of refurbishment finance
The Works-based family covers projects from cosmetic improvements through to schemes nearing completion. Light Refurb supports cosmetic, non-structural works costing up to 20% of the property’s current value, while Heavy Refurb funds consented structural works, including change of use and HMO conversions.
Development Exit refinances schemes at or near completion, giving borrowers time to sell or let the units. Each of the three comes in two pricing tiers, with more competitive pricing for stronger overall propositions and relevant borrower experience.
The Loan-based family has three products built around the funding need and the resources a borrower holds. Finish and Exit supports part-built schemes that are wind and watertight where the original funding has broken down, providing the finance to complete the project and reach an exit. Stretched Leverage allows a higher advance using additional security. Self-Funded suits borrowers paying for works from their own resources, with the facility sized around the asset and the term required.
The Specialist family comprises Repeat Borrower and Problem Solver. Repeat Borrower recognises an established track record with Albatross through streamlined due diligence and relationship pricing. Problem Solver covers complex cases that fall outside standard lending criteria, with each facility assessed and structured around the individual circumstances.
“Brokers already come to us with a broad range of refurbishment cases,” said Jordan Fearnley-Brown, co-founder and principal at Albatross (pictured).
“This refresh is about making those capabilities easier to understand and access, with greater clarity on where a case fits, what we need to assess it and how we arrive at a price.
“We have listened to broker feedback and used it to simplify the way we present our range. Behind each product is the same individual approach to assessing a case, recognising the borrower’s experience, the quality of the asset and the strength of the project.
“For us, the customer journey is central to that. Clear products need to be backed by clear communication and a process brokers can rely on, from the first conversation through to completion.”
