Where Avamore Capital sits
Heavy refurbishment & development-led bridging
Core strength. Part-complete & heavy refurb
Typical use. Finish & exit, structural works
Executive Summary
Avamore Capital is best understood as a refurbishment-depth specialist. Its proposition is designed for projects that need more than a cosmetic refresh, including structural works, reconfiguration, extensions, residential conversions and commercial-to-residential schemes. The key distinction is flexibility. Avamore states that it has no restrictions on build cost size, square footage expansion or new-build elements within its refurbishment offering. Works can be funded upfront, in tranches or at practical completion. The lender offers refurbishment loans from £500,000 to £25 million, with day-one LTV up to 85% and maximum LTGDV up to 75%, subject to underwriting, valuation, project viability and exit strategy. “Every refurbishment is different.” : Avamore Capital
That principle is central to the lender’s approach. The structure is not limited to one standard drawdown model or one definition of refurbishment.
Behavioural Profile
Avamore operates through a broker-led model. The quality of the initial enquiry matters because the lender needs to understand the asset, works, leverage, borrower, professional team and exit from the outset. The lender’s refurbishment approach is practical rather than narrowly product-led. It can consider light, medium and heavy refurbishments, provided the project fits the underlying refurbishment definition and has a credible financial structure. For example, a project may retain at least one existing wall while involving substantial internal reconfiguration, an extension or a conversion into several units. That can sit within refurbishment finance rather than requiring a pure ground-up development facility. Avamore’s process also places value on communication. Indicative terms, professional instructions, underwriting and asset management require information to move quickly between the broker, borrower, solicitors, valuers and lender. In day-to-day broking, this is important. A project can have strong numbers but still lose time because the initial information is incomplete, the build budget is unclear or the exit has not been evidenced. A proactive lender relationship helps identify those gaps earlier.
Appetite Matrix
Risk Flags
No cap on build cost or square footage does not mean automatic approval. Avamore will still need to understand how the project will be delivered and repaid.
| Area | Avamore Capital intelligence |
|---|---|
| Refurbishment type | Light, medium and heavy refurbishment |
| Structural works | Considered, subject to project assessment |
| Conversions | Residential and commercial-to-residential projects considered |
| Existing building | Refurbishment schemes generally retain at least one existing wall |
| Build cost | No stated arbitrary restriction on build cost |
| Square footage | No stated arbitrary restriction on square footage expansion |
| Day-one leverage | Up to 85% LTV |
| Maximum LTGDV | Up to 75% |
| Loan size | £500,000–£25 million |
| Works funding | Upfront, in tranches or at practical completion |
| Borrower structure | Broker-led cases, including company and complex equity structures subject to review |
| Geography | Mainland England and Wales, with some overseas borrower appetite subject to criteria |
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| Risk area | What to check before enquiry |
|---|---|
| Exit strategy | Confirm whether the planned exit is sale, refinance, bridge-to-let or another clearly evidenced route |
| Valuation | Test the current value and GDV against realistic local comparables |
| Build budget | Provide a detailed cost schedule rather than a single headline estimate |
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For auction purchases, a legal pack review should happen before bidding. A lender may be comfortable with the refurbishment but unable to proceed because of a title restriction, short lease, defective access or planning problem. Auction360 can support this stage through its legal pack review service and pre-auction approval service.
Speed Index
Avamore’s typical decision timeframe is three to ten business days, assuming the case information is complete and third-party professionals respond promptly. Completion timing will depend on legal work, valuation, KYC, title and the complexity of the transaction.
| Risk area | What to check before enquiry |
|---|---|
| Planning | Confirm planning status, building regulations and any conditions affecting the works |
| Contractor | Prepare contractor experience, programme, insurance and contract details |
| Legal title | Review covenants, restrictions, rights, leases and access issues |
| Auction deadlines | Match the proposed finance timetable to the contractual completion date |
| Retained structure | Confirm whether the project is refurbishment or a ground-up development |
| Cash flow | Decide whether upfront funding, staged drawdowns or practical-completion funding is most suitable |
| Borrower information | Prepare KYC, experience, assets, liabilities and the proposed ownership structure |
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| Stage | Practical expectation |
|---|---|
| Initial enquiry | Submit address, value, costs, GDV, leverage, term, experience and deal summary |
| Indicative assessment | Relationship team reviews the case and discusses parameters |
| Heads of terms | Indicative terms or a decision in principle may be issued |
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Speed is not just about the lender. The broker and borrower should prepare the valuation brief, title information, build cost breakdown, planning documents and exit evidence before the application is submitted.
Strengths and Weaknesses
| Stage | Practical expectation |
|---|---|
| Due diligence | Valuation, legal, KYC and professional reports are progressed |
| Underwriting | Dedicated underwriting review tests the project and exit |
| Documentation | Documents can be progressed electronically, including DocuSign where applicable |
| Completion | Funds are released once conditions precedent are satisfied |
| Post-completion | Asset management supports drawdowns, monitoring and redemption |
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| Strengths | Weaknesses |
|---|---|
| No arbitrary cap on build costs or square footage expansion | Flexibility does not remove the need for robust underwriting |
| Light, medium and heavy refurbishment appetite | Complex schemes may require more professional input |
| Works funding can be structured upfront, in tranches or at practical completion | The best structure depends on valuation, cash flow and lender approval |
| Up to 85% day-one LTV and 75% LTGDV | Maximum leverage is not guaranteed for every project |
| Loan sizes from £500,000 to £25 million | Smaller refurbishments may fall below the stated lending range |
| Broker-led relationship model | The quality and speed of the broker’s submission remain important |
| Proactive communication and electronic document signing | Legal, valuation and KYC delays can still affect completion |
| Potential fit for conversions and substantial value-add work | Ground-up development may need a separate development finance product |
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Market Positioning
Avamore sits in the part of the specialist lending market where refurbishment depth matters more than a simple cosmetic works checklist. Many refurbishment enquiries are straightforward: redecorate, replace a kitchen, upgrade bathrooms and refinance. Avamore’s relevance increases when the project moves beyond that scope but does not necessarily become a fully ground-up development. That makes it worth considering for investors and developers working on:
| Best-fit scenarios | Not-ideal scenarios |
|---|---|
| Large residential refurbishment with a clear GDV | A project with no credible valuation evidence |
| Commercial-to-residential conversion retaining existing structure | Pure ground-up development without an existing wall |
| Heavy refurbishment requiring flexible works funding | An incomplete build budget with unexplained contingencies |
| Auction purchase requiring a clear completion plan | A buyer approaching the auction without funding preparation |
| BRR project with a defined refinance exit | A refinance exit based only on optimistic future rates |
| Complex equity or company structure requiring discussion | A structure that cannot provide clear ownership and KYC |
| Part-complete or high-value refurbishment opportunity | A project with unresolved title or planning restrictions |
| Experienced developer or credible first-time project team | A borrower unable to explain delivery responsibility |
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| Project profile | Why the positioning may be relevant |
|---|---|
| High-value refurbishment | The £500,000–£25 million range supports larger transactions |
| Major reconfiguration | The lender is not limited to cosmetic works |
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The practical lesson is simple: do not assess Avamore only by asking whether your project is “light” or “heavy”. Assess how the works, leverage, valuation, professional team and exit fit together.
Frequently Asked Questions
What type of refurbishment does Avamore Capital fund?
Avamore funds light, medium and heavy refurbishment projects. It can also consider residential conversions and commercial-to-residential schemes, subject to the project retaining the required existing structure and meeting underwriting criteria. Is there a cap on build cost or square footage? Avamore’s refurbishment proposition states that there are no restrictions on the size of build costs, square footage expansion or new-build elements. The project must still be viable, properly costed and supported by an acceptable exit.
How much can Avamore lend?
The relevant lender intelligence range is £500,000 to £25 million. The final facility depends on the valuation, GDV, costs, leverage, borrower profile and transaction structure.
What is the maximum day-one LTV?
Avamore can offer up to 85% day-one LTV, subject to the specific case and valuation.
What is the maximum LTGDV?
The maximum stated LTGDV is up to 75%. Actual leverage may be lower depending on the project risk, works, valuation and exit.
How can refurbishment works be funded?
Works may be funded upfront, in tranches or at practical completion. The most appropriate option depends on the borrower’s cash flow, project programme and lender approval.
| Project profile | Why the positioning may be relevant |
|---|---|
| Conversion | Residential and commercial-to-residential projects are within the stated appetite |
| Flexible cash flow | Works can be funded upfront, in tranches or at practical completion |
| Auction acquisition | Broker-led preparation can align the loan with the auction timetable |
| Complex ownership | Complicated equity structures can be discussed on a case-by-case basis |
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How long do decisions typically take?
Decisions typically take between three and ten business days when the submission is complete and the required information is available. Completion can take longer because legal, valuation and KYC work must still be completed.
Can first-time developers be considered?
Potentially. Experience is relevant, but Avamore also considers the project, professional team, contractor and wider borrower profile. A credible delivery plan and clear exit remain essential.
Is Avamore suitable for an auction purchase?
It may be suitable where the property, legal pack, valuation, refurbishment plan and completion timetable fit the lender’s criteria. Obtain finance guidance and review the legal pack before bidding.
Useful Links
| Resource | Link |
|---|---|
| Avamore refurbishment product | Read the official refurbishment product details |
| Avamore FAQs | Review refurbishment and bridging FAQs |
| Auction360 refurbishment finance | Explore property refurbishment finance |
| Auction360 bridging finance | Review bridging finance options |
| Auction360 pre-auction approval | Arrange pre-auction funding guidance |
| Auction360 legal pack review | Review auction legal risks |
| Auction360 auction-day funding | Explore urgent auction funding |
| Planning guidance | Check planning permission guidance on GOV.UK |
| Auction finance video | Watch “Auction Finance: Why You MUST Have It Ready Before You Bid!” |
| Auction Demystified | Read Deji Nehan’s book, Auction Demystified |
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Plan Your Funding Before You Bid
If you are buying at auction, do not wait until the hammer falls to test the finance. Share the property address, auction date, purchase budget, current value, estimated works, projected GDV and exit strategy with Auction360. The team can help you assess whether Avamore’s refurbishment depth is appropriate or whether another lender structure may be better. Read Auction Demystified – Unlocking Auction Success before your next purchase to understand the auction process, legal pack risks, refurbishment planning and finance requirements.
About Auction360
Auction360 provides specialist auction and bridging finance solutions for investors, developers and auction buyers across the United Kingdom. The service suite includes pre-auction approval, legal pack review, auction risk analysis, auction-day funding, auction bridging loans, development finance, commercial bridging finance and SPV funding. Speak to Auction360 about auction finance, bridging finance or get funded.
About the Author
Deji Nehan is the author of Auction Demystified – Unlocking Auction Success and has more than 15 years’ experience across property auctions and finance. As founder of the UK’s No.1 Auction & Bridging Finance Platform, Deji helps investors, developers, deal sourcers and first-time buyers make better-informed property finance decisions.
Disclaimer
Your Property May Be Repossessed If You Do Not Keep Up Payments On A Mortgage Or Any Other Debts Secured On It. Content on this platform is for educational purposes. Speak to a qualified professional to discuss your specific scenario. Finance is subject to lender criteria, valuation, legal due diligence, affordability and approval.
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