A bridging loan is a loan to an individual or a company that can be taken out on a short-term basis, usually secured against a residential ⁄ commercial property until such time as the property is sold or refinanced with a long-term lender. A tailored illustration is provided for each client. Call 08456 440 911 today to discuss what you need.
If you need short term finance quickly, we can fund from £26,000 with a decision made the same day. You can access short term funds from only £1,500 + Valuation fee plus interest and fees. Your Interest and fees can be rolled up and repaid at the end of the loan term. Put simply, if you have a great property deal the profit you make at the back end can be used to repay the loan, saving your cash flow.
The Closed Bridging Finance Advantage:
- Territory: England, Wales & Scotland
- LTV: 80% of the Purchase Price or 70% of OMV, whichever is lower.
- Rates: From 0.55% per month (Call for Details)
- Interest: Rolled up. Deducted from Gross Loan.
- Fees: Arrangement & Exit fees tailored to each loan.
- Valuation: We instruct the valuers to act for us. You pay them direct.
- Legals: We instruct our solicitor to act for us. You will need a solicitor.
- Type: Residential Buy to Let Property & Commercial.
- Security: By way of a First Legal Charge on property.
- Loan Term: From 1 Day to 1 Year.
- Loan Size: Minimum loan size from £26,000
- Purpose: Property Purchase and Refinance.
- Type: Loans can be either open or closed.
A Closed Bridge is when there is a guaranteed exit already established. An Open Bridge is when the exit is not guaranteed.
Purpose: The money raised through a bridging loan can be used for any legal purpose
Closed Bridging Finance lend in England & Wales, In Scotland we will work with a preferred lender partner. All loans are secured on a 1st charge basis only. Loan to value is typically 80% of the Purchase Price or 70% of OMV, whichever is lower, this can be higher with additional security. Interest can be rolled up and paid at the end of the loan term. Purpose can be a purchase or refinance in some cases. Loans can be either open or closed subject to an understanding of the deal. We lend from £26,000 for the purchase of Residential Buy to Let Property & Commercial – depending on what it is. HMO Finance is our area of expertise.
Closed Bridging Finance only lends against properties that are not used as the borrower’s, or their immediate families, principal residence. We can arrange a “regulated bridging loan” with a preferred regulated partner.
Terms and conditions are negotiable. Most DIPs (Decision in Principle) delivered same day and funding available within 24 hours, assuming legals are ok. All lending is subject to valuation, underwriting and a full understanding of the deal. Arrangement and Exit fees are tailored to each transaction. Legals fees will apply to cover our costs. We instruct our solicitor to act for us. You will need a solicitor to act for you. We will also instruct the valuation, this is paid direct you to the valuer. We usually expect loans to be drawn down within 28 days from instruction.
Call: 08456 440 911 for a tailored illustration for your project today.