Build it
Build it
Development finance
Ground-up, conversion and part-built schemes, from site purchase to exit.
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Development finance
Which cap binds, loan to cost or loan to GDV, and the real day-one equity.
Build to Rent development
Underwritten on stabilised yield and DSCR, not sales rate.
Mezzanine and stretched senior
The gap between senior LTC and what you can fund, and the true blended cost.
Heavy refurbishment and conversion
Where refurbishment stops being a bridge: structure, change of use, drawdowns.
Part-built and rescue finance
Valuing an unfinished asset when the contractor has gone.
Bridge it
Bridge it
Bridging finance
Short-term debt where the deadline, the asset or the exit will not wait.
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Purchase bridge
Completing before the money is in place: chain breaks, tight deadlines, unmortgageable stock.
Development exit finance
Off development debt at a lower rate, to buy sales time and release equity.
Auction finance
A 28-day clock, and what must be in place before the hammer falls.
Pre-planning and planning gain
Lending against current value with planning upside.
Below market value purchase
Day-one lending against open market value rather than price.
Second charge and capital raising
Raising against existing assets, and first-charge consent.
Light refurbishment finance
Bridge plus refurb tranche, and where the development boundary sits.
Also structuredBridge to let and refinance
Hold it
Hold it
Mortgages and term finance
Long-term debt against income, once the asset is built, let or trading.
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Buy to let mortgages
ICR stress testing, limited company against personal, portfolio rules.
HMO mortgages
A higher cover test, licensing, and the two valuations a lender takes the lower of.
Commercial term, investment
Tenant covenant and lease term, and why DSCR sets the loan.
Commercial term, owner-occupier
Trading accounts and EBITDA rather than rent roll.
Portfolio refinance
Cross-collateralisation, and one facility against individual loans.
Stabilisation and term refinance
The income test replacing the GDV test, and the letting void before term debt engages.
Co-living and PBSA
An operational asset valued on income, and the operator covenant.
Run it
Run it
Business finance
Funding the business behind the property, secured on the ledger, the equipment or the covenant.
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How we work
Case studies
Articles
Tools
Development finance calculator
Size the facility against site cost, build cost and GDV.
Development exit calculator
Refinance the development facility and release equity at PC.
Bridging finance calculator
What a bridge costs, and what actually clears on day one.
Refurbishment finance calculator
Fund the purchase and 100% of the works, with interest rolled to exit.
BTL rental cover calculator
The rent a buy to let must achieve to clear a lender's cover test.
Commercial mortgage calculator
What a commercial property's income will support, and what it costs.
About
Enquire now
Hold it › Portfolio refinance
A portfolio assembled one property at a time ends up financed one property at a time: different lenders, different rates, different expiry dates and a remortgage to manage every few months. It works, and it quietly consumes an enormous amount of time.
A single facility across the portfolio replaces that with one lender, one rate, one expiry and one relationship. It usually releases equity too, because the aggregate is assessed rather than each property in isolation, and a strong asset can carry a weaker one in a way it cannot when they are financed separately.
The cost is cross-collateralisation. Every property secures every pound, so a problem with one asset is a problem for all of them, and selling a single property requires the lender's agreement and usually a partial repayment calculated on their terms rather than yours. Flexibility is what you are trading away.
Test a single property's cover before you fold it into the facility.
Aggregate coverage, and where it is thin
The whole portfolio is tested together on income and on value. We identify which assets are dragging the aggregate before a lender does, because those are the ones that decide the terms.
Release conditions negotiated up front
What it takes to sell one property out of the security: the notice, the consent and the repayment formula. This is the clause that determines whether the facility supports your strategy or constrains it.
Compared honestly against staying as you are
Consolidation is not automatically right. Where existing facilities are well priced with staggered expiries, the administrative saving may not justify the cost or the loss of flexibility, and we will say so.
Structure and ownership resolved first
Mixed personal and company ownership, mixed residential and commercial, and any properties in trust all narrow the lender list considerably. Establishing the shape before approaching anyone avoids a sequence of polite declines.
Which lenders play here
Specialist portfolio lenders and challenger banks, with appetite driven by portfolio composition rather than size. A clean residential portfolio in one structure is straightforward; mixed use, mixed ownership or a spread of unusual assets is a much shorter list of lenders.
Indicative, and not an offer. What a lender will actually do depends on the scheme, the borrower and a full valuation.
What to have ready
Bring these and we can tell you where you stand.
Each one is something a lender will ask for. Having it early is the difference between a fast answer and a slow one.
✓A schedule of every property: value, balance, lender, rate, expiry and rent
✓Ownership structure for each, personal or company
✓Aggregate rental income and the operating costs against it
✓Any early repayment charges on the facilities being replaced
✓What you want from it: equity release, simplification, or both
✓Your plans: acquisitions, disposals, and anything you expect to sell
Related
Worth reading on this
Article
Refinancing Mid-Build: Why, When, and How?
Case study
£11m Cross-Collateralised Against Two Near Complete Residential Schemes
Case study
£1.2m Semi-Commercial Bridge and Refinance to Commercial Mortgage
Next
Related in this pillar.
Common questions
The questions this product raises.
What does cross-collateralisation mean in a portfolio refinance?
Every property secures every pound. In exchange for one lender, one rate and one expiry date, a problem with one property becomes a problem for all of them, and selling any single property needs the lender's agreement and usually a partial repayment on its terms. Flexibility is what you trade away.
Will a portfolio refinance release equity?
Usually, yes. The lender assesses the portfolio as a whole, so a strong property can carry a weaker one in a way it cannot when each is financed separately. But consolidation is not automatically right. If your existing loans are well priced, with expiry dates spread out, the saving may not justify the cost or the lost flexibility.
Can I sell one property out of a portfolio facility?
Yes, on the terms agreed at the start: the notice you must give, the lender's consent and the formula for how much you repay. That release clause decides whether the facility supports your plans or gets in their way, so negotiate it before you sign, not when you want to sell.
Can properties held in different names or companies go into one facility?
Sometimes, but it narrows the choice of lender considerably. A mix of personal and company ownership, residential and commercial property, or anything held in trust cuts the list down. Work out the ownership structure before approaching anyone, because applying first and finding out later leads to a string of polite declines.
Bring us the detail.
Send what you have. We will tell you what is fundable and what needs work before anyone approaches a lender.
Specialist property finance for developers who want the numbers to survive underwriting.
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Fundingwise Limited is not authorised or regulated by the Financial Conduct Authority, and arranges unregulated finance only. That means lending secured against commercial property, or against residential property that is not, and will not be, occupied by the borrower or an immediate family member as a main residence. We do not advise on or arrange regulated mortgage contracts or regulated bridging loans. Because this finance is unregulated, FCA conduct rules and access to the Financial Ombudsman Service do not apply. Fundingwise Limited is registered in England and Wales, company number 13750788.