The new product is designed to support developments delivered under permitted development rights, the conversion of properties into smaller HMOs and reconfigurations, as well as smaller renovations.

It enables borrowers to access funds in staged drawdowns, so they only pay interest on the amounts they actually draw.

This bridging facility is available on projects with a maximum works cost of up to £500,000, and each drawdown must be a minimum of £25,000.

The product is available up to 75% net LTV and includes the option for below market value purchases.

•   B&C Awards 2025: The Video
•   Castle Trust launches new website
•   Castle Trust Bank hits £50m bridging completions milestone with Dynamo

Anna Lewis, commercial director at Castle Trust Bank (pictured above), said: “We’ve already seen a strong demand from brokers and investors for a drawdown facility on heavy refurbishment projects, where clients want to manage their cashflow more efficiently and avoid paying interest on undrawn funds.

“But the efficient use of capital doesn’t need to be contained to larger schemes and our new light refurbishment with drawdowns product gives investor the flexibility to take on a wider range of projects, with the confidence that they can draw on the funding they need, when they need it.

“It’s another example of how we’re building a bridging proposition that not only adapts to investor needs but actively empowers them to move quickly, stay in control of their funding and maximise returns in a competitive market.”