Residential & commercial bridging loans
Whether it’s your first Bridging loan or adding another property to a growing portfolio our team of experts will structure the right loan to fit your needs.
We recognise that we are often required to move fast for the deal to be secured, hence we partner with experienced lawyers and valuers who know how this market works, including Auction Finance.
If minor refurbishment works are required in order to maximise value we can accommodate the funding of these through the Bridging Loan.
In order to secure a Bridging Loan, 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 minor refurbishment works are complete.
Key highlights
- We provide fast decisions suitable for Auction Finance.
- We price on risk, with monthly rates starting at 0.69%.
- Terms are available up to 12 months, though occasionally longer.
- Loan size between £100k and £2.5m.
- We usually look to a maximum outstanding Bridging Loan of 75% 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 Bridging Loan to help cash flow.
- 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 in which the borrower, or members of their immediate family, have lived or intend to live in.
Bridging rates
- We aim to give you an initial response within a couple of hours of receiving your enquiry.
- LTVs up to 75% gross against Open Market Value
- We can offer loans from 0.69% per month – the lower the risk, the lower our rate will be.
- Arrangement Fees from 1% - unlike many of our competitors we do not charge ad hoc administration fees.
- We do not charge any fees for initial engagement or early redemption.
- No exit fees, minimum 3 months loan term.
- We always ensure the valuers, solicitors and lawyers who represent our interests offer the right mix of price, speed and expertise.
- We aim to pay introducer fees on the day of completion.
Featured case study
Bridging Finance in rural Wales
- £500k lend to clear existing debt on the property
- Flexible approach consisting of several re-structures
- 3 weeks from first application to completing the acquisition
If you require a flexible and personable lender who will work to bring your clients’ plans to life:
Call Us: 01942 295 982
Email Us: enquiries@senecabridging.co.uk
