We routinely fund the purchase of residential or commercial property for new and experienced property developers to grow their property portfolios.
In order to secure bridging finance, an exit needs to be clear and viable at the outset. The typical exits are either refinancing through a longer term lender or selling the property after the renovation or conversion works are complete having added significant value to the property. As a result of a refinance or sale, the borrower repays the bridge. See some recent case studies.
– Terms are available up to 12 months, though occasionally longer.
– Loan size between £25k and £3m.
– We usually look to a maximum outstanding loan and interest at 65% of the end value. Some flexibility can be provided on a case by case basis.
– We can roll up interest to the end of the term to facilitate cashflow.
– We require a first legal charge on the property.
– Clear exit plan to be determined at the outset.
– Transparency on all fees guaranteed.
– No early repayment fees.
– We provide unregulated bridging finance and so we are unable to arrange bridging on properties where the borrower or members of their immediate family intended to live in, now or in the future.
If you or your client has a funding requirement for an intended residential or commercial purchase, please get in touch using one of our forms below or otherwise contact us on 01942 295 982.