Professional & Commercial - One of the largest independant introducers of Buy to Let Mortgages in the UK. 02380 639 624

Bridging Finance

From time to time short-term funding is required to enable a property purchase or perhaps a development to come to fruition. In these circumstances Bridging Finance can be a very useful tool. The requirement for Bridging finance is often urgent and a number of lenders have structured their products to enable applications to be processed quickly and efficiently. In some instances it is possible for the required funds to be available in a matter of days, provided all the necessary information is made available to them speedily.

Just as an example, a client purchased a residential property for cash and carried out a programme of refurbishment prior to letting. The project only took two months but in the current market, the majority of lender's will not refinance a property onto a long-term loan unless it has been owned for a minimum period of six months. The client wished to replenish his cash resources to enable him to take advantage of another purchase opportunity. To achieve this we arranged short-term Bridging Finance for him, which was repaid by refinancing onto a long-term loan once the six-month ownership period had elapsed.

The terms available will depend upon a number of factors, including the Amount of the Loan, the Loan to Value, the Property type and the Loan term but as a guide the following is possible:
  • Interest rate:       From 0.69% per month
  • Loan to Value:      up to 70%
  • Lender's Arrangement Fee:    2.00%
  • Loan Term:           By negotiation - Minimum of one month's interest payable
  • Redemption Fees:   Nil
Other situations, in addition to the example above, in which Bridging Finance can prove useful are:
  • Pending the sale of a property
  • To finance a property whilst awaiting Planning Permission or a Planning gain
  • To simply cover a short-term cashflow  requirement

info@prof-com.co.uk    023 8074 1212


Commercial Property Finance
 


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ANY PROPERTY USED AS SECURITY, WHICH MAY INCLUDE YOUR HOME, MAY BE REPOSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE
Professional & Commercial is a trading style of Group Executive Agencies Limited. Registered in England number 2067806.
Registered office: Carmac Place, Cams Hall Estate, Fareham. Hampshire, PO16 8UY

Group Executive Agencies Limited is Authorised and Regulated by the Financial Conduct Authority.