Bridging Finance
Bridging finance is a way of quickly raising short term finance secured against Residential and Commercial property, usually within days. All loans are fully non-status and past credit problems may not be a barrier.
When can it be considered?
Commercial funding -Â A bridging loan is an ideal tool for clients looking to purchase new premises where long term finance has not been obtained. It can also be used for the acquisition of property that requires refurbishing/tenanting before the bank will lend against it.
Residential Funding -Â Most commonly used when the client wishes to purchase another property whilst their existing property is being sold.
Auction Funding -Â Time can be tight when it comes to a property purchase and speed is the main advantage bridging finance can offer when compared with traditional funding offered by the high street banks.
Benefits
- Funding up to 80% of market value (subject to criteria)
- Applications accessed on market value
- Commercial, Residential, and property portfolios considered
- Decisions within 24 hours
- Release of equity within property for varied reasons, eg business opportunities, MBOs, tax bills etc