Conversion Product

What is the Conversion Product?

 

The conversion product is applicable for any development scheme which has a minimum of 1 existing wall being maintained on the project. The product can be used for converting an existing property into residential units or a mixed use scheme.

 

How can Avamore help?

 

Please see below a full rate card for conversion schemes, get in touch if you’d like to discuss anything further:

Item Number*
Price Starting from 6.5% p.a. (no LIBOR adjustments)
Minimum Loan Size £500,000
Maximum Loan Size £10,000,000
Max LTGDV 65%
LTV (Day 1) 70% (including fees)
Developer Profit (minimum) 20% profit on cost
Loan Term 3-24 months
Conversion Definition Conversions & extensions/additional storeys. Partial demolition also permissible
Borrower Experience Minimum 1 previous relevant scheme
Fees Arrangement fee: 2.0%* exit fee: 1% of loan amount
Location South England & the Midlands (excluding Devon & Cornwall with a northern boundary of Birmingham – Leicester – Stamford)


*All rates are subject to situational review

Next Steps

 

To discuss next steps, please call us on +44 (0) 203 440 9651 or, email us on enquiries@avamorecapital.com. If you are ready to check whether your property qualifies for an Avamore solution, please email us the following information:

 

  • Description of property (including any future plans to develop)
  • Location
  • Vacant / tenanted
  • Use of loan (for bridge and refurb, please view our bespoke product)

 

When do you use the Conversion Product with Avamore?

 

Conversion of existing property to residential units or a mixed-use scheme.

 

Avamore’s Experience

 

We have issued a number of development loans, review our case studies and find out how we have helped clients previously.

View Other Avamore Products

 

Commercial Bridging

 

Straight-forward solutions for commercial bridging

 

Development Finance

 

Quick, efficient and affordable development finance

 

Bespoke Solutions

 

Dynamic solutions for unique circumstances