Designed to help a business or individual take advantage of property investment opportunities.
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What is Bridging?
Bridging Loans are a form of short-term finance, designed to help a business or individual take advantage of property investment opportunities or quickly access finance to resolve an immediate funding issue. The ‘bridge’ covers the gap between needing funds and being in a position to repay or recover those funds via a property sale or refinance onto a long-term loan or mortgage. A key feature of bridging is that the finance is available at very short notice.
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Property Types Suitable For Bridging (not exclusive)
- Residential Investment Property
- Semi-commercial Property (e.g. shops with living accommodation above)
- Retail units
- Office Premises
- Industrial units, Factories and Warehousing
- Working Farms
- Land (with/without planning)
- Hotels & Guesthouses
- Auction Purchases
- Completed residential developments (pending sale)
Market Size
Bridging Finance is a very big market with many active lenders and widely differing terms. This is short-term finance and having an exit strategy (sale or refinance) is critical to most lenders. Terms available will be very dependent on property type and strength of applicant. We can guide you to best and quickest solution for your individual proposition.
Indicative/Typical Terms
- Rates: from 0.45% per month
- Max LTV : 70%
- Min/Max loan: £75K to £15 million
- Loan term: 1-18 months
- Personal guarantees: sometimes required
- Security: 1st legal charge over property; 2nd legal charge depending on equity & property type
- Arrangement fees: from 2%
- Other fees: legal & valuation fees
- Loan purpose: virtually any : property purchase, debt/loan repayment, capital raising
- Credit Underwriting: weaker cases potentially acceptable
- Pay outs: very fast, from 2-3 days depending on circumstances
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Feel free to talk through a proposal with us, or seek a bit of guidance on your best options.
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