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How to refurb before completion

buy refurb refinance Dec 10, 2020


Can you use a bridging loan to exchange on a site, do the work and complete after the sale? In other words, delay completion using a loan to do it.


I have been teaching exactly this strategy for years at my Ninja Investor Programme.  I call it the 100% refurb strategy, because you rarely end up borrowing less than 100% of the purchase price when you use it.  We have brokered it for our clients numerous times over the years. Here is how you make it work:

  1. The property has to be vacant - you cannot refurb it around the owners
  2. You agree with the owners that upon exchange of contracts you
    1. get the keys
    2. get permission to enter
    3. get permission to carry out works
  3. We line up the right bridger for this - few bridgers will fully ignore the purchase price, some only lend on the purchase price, others on a max of 90% of it. We only use the ones that ignore it
  4. You use your own cash to do the refurb - you cannot borrow on a property you do not yet own
  5. When the refurb is finished the bridgers valuer values the property at the done up value and ignores the purchase price
  6. The bridger finalises the loan and you get the DUV based loan.

If you try to borrow the refurb costs it won’t work, you need to fund this bit yourself and, since you won’t be putting down a deposit, you should be able to do this. Trying to do this with no cash won’t work.

You can learn more here:


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