A caveat loan can pay for refurbishment costs and renovation projects, enabling the value and equity to increase. With quick access to funds, you can renovate the property to a quality standard and be able to make a profit if you choose to sell it on.
For property that is deemed unfit for occupation (i.e.: no bathroom, kitchen or heating system), it is not possible to obtain a conventional mortgage. Bridging loans can finance the restoration or refurbishment on the property so it is possible to eventually secure a mortgage.