Predominately used in Development Finance and Bridging Finance, but increasingly used in BTL. The Lender is asked to fund an Asset that is in need of re-decoration and renovation, which normally means CapEx, value enhancement and lack of Cashflow during the re-furb process. Underwriting of such loans has to take all these aspects and more into consideration. The Lender may choose to fund some of the works carried out, and / or release monies up on completions against the higher value.