Incomplete Property Loan

Have you found a property that you can purchase for a fraction of its potential value? Does the property require major modernisation, but you cannot obtain mortgage finance due to its current incomplete and poor condition? Don’t miss out on a profitable transaction; purchase and complete the renovations using our bridging finance. You will then be able to either refinance to a lower-rate mortgage deal or sell the property at a profit once the work is complete.

Purchase of an incomplete/run down property using bridging finance


Our client purchased a partially renovated house without a kitchen or bathroom. After being refused mortgage financing from his bank, our client asked us to arrange a bridging loan to purchase the property. After renovation, the house now qualified for a mortgage, which our client did in order to repay our bridge.

Why use an incomplete property loan?

Incomplete property loans represent an ideal solution where traditional mortgages and property loans are out of the question. Major banks and high-street lenders are generally unwilling to lend against properties not considered ‘mortgageable’ in the traditional sense. In this case, an incomplete property loan could be the best available option.

Specialist lenders can offer loans against properties that traditional banks consider unacceptable, such as:

  • Derelict properties
  • Properties without a working bathroom or kitchen
  • Buildings with severe structural problems
  • Homes that are considered uninhabitable
  • Properties with non-standard or unusual construction
  • Homes and commercial properties valued under £50,000
  • Properties with less than 80 years left on the lease

Where incomplete property loans are needed, lenders are just as interested in the borrower’s exit strategy as they are in the condition of the property itself. As with all mortgages and property loans, interest rates and overall borrowing costs differ significantly from one lender and product to the next.

It is therefore strongly advisable to work with an independent broker in order to compare the market and find the best possible deals available.