Bridging Finance

Bridging is a short-term finance solution designed to meet a specific need where conventional funding is either unavailable or impracticable (eg. time constraints).

Typically for:

• Purchase of new / additional property pending sale of existing property.
• Purchase of property from auction.
• Purchase of property in need of renovation / improvement for short – term sale.
• Capital raising short-term.
  

In cost terms bridging is slightly more expensive than conventional lending, but presents opportunities for commercial gain or alternatively problem solving where there is an immediate call for cash.  Repayment is usually via property sale / disposal or subsequent refinancing of the borrowing onto a conventional term loan or mortgage.
 
Features :

• Rapid turnaround – funds available typically 7 – 10 days.
• 100% advances where additional security or charge on existing and purchase property available.
• Commercial or residential / buy-to-let / property.
• Lending based on open market value of property (facilitating higher advance where discounted purchase price negotiated).
• No exit fees / penalties
• Daily interest
• Interest only payments, with option of interest roll-up.
• Non-status products (i.e. no accounts or proof of income).
• Simple and transparent application process.