Frequently Asked Questions
A Bridging loan is designed to ‘bridge a gap’ for a property transaction until longer-term finance can be arranged, or an underlying security is sold. Bridging loans are popular because of the flexibility and speed that they can be arranged.
We routinely provide Bridging finance to fund the purchase of residential or commercial property for experienced property investors or developers to grow their property portfolios. Bridging loans can also be used to release equity from an existing property for further business transactions.
Seneca Bridging can lend between £100,000 and £2,000,000.
The terms from Seneca Bridging are flexible and usually range from minimum of 3 month to a maximum of 12 months on Bridging deals and up to 18 months on Development. In addition to this, there are no fees or charges for early repayment.
We aim to issue indicative terms within hours and we aim to complete within a matter of days, not weeks.
We evaluate each application individually, so our pricing is flexible. Our Bridging loan rates start from 0.69% and Development loans start from 0.85%.
Yes. After the initial minimum 3 month, we do not charge early redemption penalties if you wish to pay off the loan earlier than contracted, only an exit fee would be applicable if agreed from the outset.
An exit strategy will be required to ensure there is security on how the finance will be repaid. Common exit routes are the sale of the property that the loan has been secured against or refinance via another form of finance.
If you require a flexible and personable lender who will work to bring your clients’ plans to life:
Call Us: 01942 295 982
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