Catalyst Property Finance has brought out a new bridging refurbishment product, named Refurb+.

It is aimed at property investors and developers who want to maximise their cash flow.

Loans are available from £100,000 to £5m and borrowers may roll-up interest and add monitoring costs about 75% net loan, including completion fees.

The lender will fund up to 100% of refurbishment costs in arrears and lend at up to 75% loan-to-gross-development-value. An extension of up to 25% is available on certain property types.

No asset manager will be required where the cost of works is below 10% of day open market value and funded by the borrower and for cost of works of up to £50,000.

Rates start at 0.65% per month for products from three to 24 months.

Catalyst chief executive Chris Fairfax says: “We understand that cash flow is incredibly important right now, so we are providing a facility that allows borrowers to maximize LTV, reduce deposit contributions and make the drawdown process faster and at a lower cost.”