Bridging Finance: Standard Bridge Loan
Bridging Finance: Uses
- Raising money for business purposes
- Auction
- Leasehold Extension
- Shifting ownership from individual to corporate (or vice versa)
- Portfolio refinancing, where borrower buys time to find right long term finance
- Refinance out of development loans, sometimes known as sales period finance
- Purchase to develop, exit will be development finance
- Finance for time during which enhanced planing permission is being requested
Bridging Finance: Type of Properties Suitable
- Residential properties
- Properties in England and Wales
- Multiple security acceptable
Bridging Finance: Loan Conditions
- No Exit Fees
- Retained Interest
- 1st Charge only
- Adverse credit considered on a case by case basis
- No minimum size, maximium size £30 million
- Maximum LTV 70% 1st Charge
- Interest rates from 0.85% per month 1st charge
- No refurbishment i.e. no cosmetic or structural changes