richard - new 2

Bridging Finance

Bridging loans can be arranged on commercial, semi-commercial and residential properties, on either a first or second charge basis. Funds can be raised for a variety of purposes and generally funding can be obtained within ten working days. Funding of up to 80% of the market value of the property can be obtained. There is much competition in this sector and we have seen rates reduce greatly over the past year or so.

Bridging finance is normally secured on freehold or long leasehold property. However funding can also be secured against other tangible assets that can be professionally valued.

Most facilities are for 3-12 months. However facilities can be agreed up to 18-24 months in some circumstances. In addition there are medium term bridging facilities available at lower rates for up to three years on investment properties. Rates starting from circa 0.45% per month.

The key issues from the lenders view point are the quality of the properties being taken as security and the exit. They need to be comfortable that the property can be re-financed or sold reasonably easily to repay their loan.

Key benefits and uses of bridging finance:

• Auction purchases.
• Refurbishment projects
• Refinancing/capital raising
• Funds can be raised for a variety of purposes
• Quick decisions.
• Loans can be secured on commercial and residential property
• Decisions can be made in hours and money can be available in days
• Interest can be rolled up for the term of the loan
• Short and medium term bridging options available.
• Bridging is available for both the employed as well as self employed
• Finance available for people with adverse credit history
• Proof of income not always required.

Please contact us for further information or to discuss your requirements.

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