Call us for a free consultation or Quote on 01206 544333
Need funds within days to complete on a property transaction?
Want to release short term equity from a property to meet a financial commitment?
Bridging finance can arranged from a closed bridging loan of just 1 days to an open bridging loan of 12 months. With over 30 lenders now offerings this types of finance we look in details into the charges and fees that they charge to ensure the client get the best terms. We consider all of the following:
- Upfront fees
- Settlement fees
- Legal costs/ valuation costs
- How interest is calculated
- The ability of the lender to meet the clients completion requirements
Latest news/offers
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Closed bridging can be arranged for short terms to allow customer to finance property at below market value. Property can be purchased for £400,000 for a 7 day completion against a market value of £470,000. Bank can't meet 7 day completion and will only lend 75% against the lower of the purchase price or valuation (75% of £400,000 = £300,000). Bridging company will lend 75% against the market value (75% of £470,000 = 352,500) and can meet 7 day completion target. Bridging allows deal to complete and only requires customer to find £47,500 deposit. Renovation undertaken and 3 months later the property is valued at £600,000 and long term mortgage arranged at 85% of value. Bridging loan settled and £157,500 of equity released to client.
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Customer will poor credit history arranges bridging finance to release equity and repair credit history before remortgaging with long term lender
For a free no obligation discussion about your business and your finance requirements, please call us on 01206 544333 or contact us. We work with businesses both established and new, including businesses with no formalised accounts (through self certification systems)
"We pride ourselves of being totally independent from any lender in the market and work on behalf of our clients to source them the finance they require and at the best terms in the market"
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