Refurbishment Finance in Glasgow
CoreFi arranges refurbishment finance, short-term lending that funds a property purchase and its works, for Glasgow projects, principally through limited companies. We match your case to lenders who fund refurbishment in Scotland. Rates, loan-to-value and terms are indicative and depend on the property, the works, the exit and lender appetite.
Refurbishment finance is short-term, property-secured lending sized around a project: the lender advances against the property and, on heavier schemes, funds the works in stages, with repayment from a refinance or sale at the improved value. Glasgow's stock makes the product distinctive. The city is defined by its pre-1919 sandstone tenements, from the West End through Dennistoun to the Southside, and refurbishing a tenement flat means engaging with shared fabric, common closes, roofs and stonework maintained with the other owners, often through a factor, alongside the flat's own works. Beyond the tenements sit Victorian commercial buildings in the Merchant City and along the Clyde converting to new uses.
CoreFi is a commercial finance broker, not a lender. We work with property businesses, principally limited companies, to understand the project and match it to lenders whose criteria fit. We do not lend and we do not decide the outcome. Whether finance is offered, and on what terms, depends on the property, the works, your exit and each lender's appetite at the time. Any rate, loan-to-value figure or timescale on this page is indicative and for illustration only; nothing is guaranteed until a lender formally offers.
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Tell us about the project
Share the property, its location, the purchase price or current value, a costed schedule of works including any share of common repairs, and your exit with a view on end value.
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We match you to lenders
CoreFi identifies lenders on our whole-of-market panel who lend in Scotland and fund light or heavy refurbishment at your project's scale, and we focus the case on them.
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Review indicative terms and proceed
Interested lenders come back with indicative terms covering the advance, works funding and release conditions. Everything is subject to valuation and underwriting; you then deal with the chosen lender to drawdown.
Refurbishing Glasgow tenements: what changes the lending
A tenement refurb splits into the flat and the fabric. Inside the flat, kitchens, bathrooms, wiring and heating sit comfortably in light refurbishment territory and price near a standard bridge. The shared fabric is different: roofs, stonework, closes and common repairs are collective obligations, and a lender assessing the security wants to know the block's condition and whether major common works are looming, because a five-figure share of a roof repair lands on the owner regardless of their own plans. Buyers pricing a tired flat in Govanhill or Dennistoun should read the home report and factor's notes as carefully as the works quote. Where the project extends into structural alteration or subdivision, it moves into heavy refurbishment, staged funding and closer scrutiny.
Glasgow projects lenders see again and again
The refurb-to-let flat is the volume trade: Southside and East End tenement flats bought tired, upgraded and refinanced onto limited-company buy-to-let facilities, with the Southside's rental demand doing the heavy lifting on the exit. West End projects skew higher-value, often period conversions aimed at sale. HMO use is a licensing matter in Scotland, mandatory for three or more unrelated sharers, and concentrated around the universities; a lender will want the licence position clear before underwriting an exit that depends on it. Commercial conversions in the Merchant City and along the corridors toward the Clyde round out the set, bringing planning and heavier works into scope. Scottish legal process differs from England, missives, standard securities, home reports, and the lenders we match you to lend in Scotland as a matter of course.
How CoreFi works and what we are
CoreFi is a trading name of JG Core Ltd. We are a commercial finance broker, not a lender. Broking unregulated commercial finance to limited companies does not require FCA authorisation, and we do not hold ourselves out as FCA authorised or regulated. Our role is to understand the property, the works and the exit, package the case clearly and introduce it to lenders on our whole-of-market panel whose criteria fit, which for Glasgow means lenders who actually lend on Scottish security. You deal directly with the lender on the loan itself. We cannot promise an approval or a specific rate. What we can do is put your project in front of the right desks first.
What lenders look at on a refurbishment case
Current value, credible works cost, end value, exit, plus, in Glasgow, the condition of the wider block on tenement stock. Lenders want a costed schedule of works with contingency, staged releases in arrears against inspection on heavier schemes, and an end value grounded in local comparables. A refinance exit is tested against the term lender's likely numbers, including rental cover on a buy-to-let exit; a sale exit against realistic demand within the loan term. Not every bridging and refurbishment lender operates in Scotland, so the first filter is jurisdiction, the second is appetite for the asset. All figures discussed before formal assessment are indicative only.
Frequently asked questions
Do refurbishment lenders operate in Scotland?
Many do, but not all: some England-focused bridging and refurbishment lenders do not lend on Scottish security at all. That makes jurisdiction the first matching filter for a Glasgow project, before asset type or pricing. We put your case only to lenders who lend in Scotland.
How do common repairs affect finance on a tenement flat?
They affect the security. A lender assessing a tenement flat considers the block's fabric, roof, stonework, close, and any major common works on the horizon, because those costs bind every owner. Evidence that the block is well maintained, or that common works are priced into your plan, strengthens the case.
What is the difference between light and heavy refurbishment finance?
Light refurbishment is cosmetic and non-structural, no planning, no change of use, priced near a standard bridge. Heavy refurbishment involves structural work, subdivision or a change of use, with works funded in stages against inspections. Lenders draw the boundary differently, so classification is per lender.
Can I refurbish a flat for HMO use in Glasgow?
Only with the licensing position clear. Scotland requires an HMO licence for three or more unrelated sharers, and availability depends on the property and the council's standards. A lender will not underwrite an exit that assumes a licence you do not hold, so resolve it before committing to the works.
Can CoreFi guarantee I will be approved?
No. We are a broker and we do not lend or decide outcomes. Whether finance is offered, and on what terms, depends on the property, the works, your exit and each lender's appetite at the time. We help present the case well, but the decision sits with the lender.
Is CoreFi FCA authorised?
CoreFi arranges commercial finance for businesses, principally limited companies. Broking unregulated commercial finance to limited companies does not require FCA authorisation, and we do not hold ourselves out as FCA authorised or regulated.
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