If you are purchasing a property in need of refurbishment at auction, or through an estate agent, you need certainty that funding will be in place in time to bid or negotiate, and that the funding is secure and won't be withdrawn.

  • We have funded many clients to buy properties in need of refurbishment which has allowed them to overtake others bidding on the same property. We have also been able to provide funding for properties which are uninhabitable and cannot secure mortgages from the majority of lenders.

    Estate agents and professionals are often complimentary about our services and happy to see us involved in project funding as we have a positive track record of delivering on our offers of finance.

    Your loan is secured against the property, so, depending on the property's value, we will consider rolling up the interest into the loan. This means you do not have to pay monthly interest, as the interest will be added to the loan and repaid at the end of the loan term along with the capital sum.


  • Some examples of where we have lent for property refurbishment:

    Large 4 bed terraced property purchased in a dilapidated condition and converted into a 6 bed student house of multiple occupation.

    Shop and house converted to offices. This project commenced as a residential conversion. The client subsequently wished to change his development strategy part way through the build. We could see the commercial sense to his plans and were able to amend our support to adapt to his changed use for the site. As a result, he was able to complete the property as a commercial entity and secure a strong, long term tenant.

    Retail shop with flat above. The site had structural issues which we were able to overcome by working with the client and his structural engineer. As such, we were able to lend to facilitate conversion to a residential property and ensure the client was then able to refinance the site at completion

  • Why us:

    We will consider lending against other assets you may have, to see if there may be alternative choices for either cheaper funding or a higher level of borrowing.

    If you are successful in securing funding elsewhere, it could mean that you don't have to borrow from Panacea, or that you can reduce the level of funding required from us.

    We will highlight potential options for refinance after completion of the project when you will be required to repay our borrowing.

    You deal direct with our decision makers - we are a small and highly experienced team.

  • Features of our refurbishment lending:

    Staged drawdown available

    Interest roll up available

    We can consider property in poor repair or with structural challenges

    We will look to match our loan term with the expected refurbishment and sale/refinance timeline, to avoid, where possible, facility expiry and renewal

    Aggressive loan to value facilities can be offered, if an individual client and/or case merits this

    Independent land/property valuations are not always required

    Open discussion with our underwriters throughout if plans or circumstances change, we will do our best to work these through and adapt our funding accordingly

  • I was introduced to Panacea by my bank as they weren't able to assist me. I wished to borrow to acquire a property on which I wished to subsequently alter the planning consent for conversion to a multi room property for multiple occupation. The Panacea team met me on site and quickly built a detailed understanding of my business model. As a result they supported me with purchase finance to enable me to acquire change of use, then development finance to complete the project. This was all at a higher loan to value than I could obtain in the wider market. Their service is extremely personal and it is a pleasure to be able to deal direct with the decision makers. I am now a repeat user of their services and will do so again in the future, with absolute confidence in their ability to deliver.

    Dan Miek - Property Developer

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