We can help you with short term finance requirements through relationships with reputable bridging lenders. As associate members of the Association of Bridging Professionals we have access to all the main lenders and can arrange fast Bridging Loans, allowing you to immediately take advantage on a purchase opportunity.
With many bridging finance lenders to choose from choosing the right one is critical to the success of your project. Trust us to recommend the right one for you, we will help you throughout the process and if required, negotiate on your behalf.
Our bridging finance lenders offer short-term financing from 1 month to 18 months - until the borrower sells on or obtains more permanent, lower cost financing.
Bridging loans give you a stronger negotiating position when buying property, enabling you to buy without a contingency on the sale of your existing property or other assets. We can arrange a bridging loan from £26,000 - £3 million on a first or second charge basis. Typically bridging finance loan to value (LTV) is 70% - 75% against the market value of the property. With 100% possible if the asset is valued above or if additional security is available.
- The amount you can borrow depends upon the value of your home or security property and your ability to repay from sale proceeds, a long term mortgage or a combination of the two.
- Second charges can be arranged on the amount which when added to the first mortgage is not more than 70 - 75% of the value of the property.
- Within the amount of the loan, it is possible to roll-up interest so that your monthly finances are not disrupted. You should be aware that this will increase the amount that you have to pay back.
- Rates from as low as 0.65% per month.
It is very important that you obtain a written quotation showing the true APR as lenders charges vary. Initial facility fees of 2.0% are common but look for no exit charges on redeeming the loan. Also look for Interest being charged on a daily basis. A very important point on all loans is to be aware if your lender is charging you from day 1 for all the facility or only what you have drawn down. For example a lender may offer you a facility of say £100,000 but only advance £35000 on day one the balance being released in stages as agreed. If that lender is charging you interest on the balance that has not yet been released then in reality they are charging you a higher rate of interest than they may have quoted. In this scenario we would use a lender who would only charge interest on the £35000 you have received and pro rata when you draw more of the facility.
Rates from 0.65% * Interest charged daily * No exit fees * Bridging and Refurbishment products * 1st and 2nd charges *
Speak to us today for more details on their and our other lenders products.