Bridging Finance
Bridging Finance in Yorkshire & the North-East
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 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.
- up to 70% ltv (100% where additional security available)
- Loan size £100,000 to £5million
- 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.
- Simple and transparent application process.
- Rates from 0.99% per month (residential property)
Contact Us
If you have a proposal you would like to discuss, please contact us on 08452 632 104 or by email at phil@bentleyassociates.net, and we will be more than happy to talk through your query.
Remember, if you are in need of commercial financing in Yorkshire or any of the other expert services we provide, contact us today!