Bridging loans are short term property finance which can be arranged within two to three days. They are for a set, short period of time, usually between one and 12 months.
A bridging loan, whether it is a commercial bridging loan or residential bridging loan, is used mainly to secure purchases where the chain has broken or for auction purchases. Facilities up to 100% are available, with additional security, with market leading rates available.
Other uses, a bridging loan can be used for are:
- cash flow solutions
- development finance
- renovation projects
- Commercial and residential bridging loans are almost always secured against property and they are borrowed against the equity of the security being offered
Key features of bridging loans available through Moneypoint Finance available for both commercial and residential properties:
- Enable fast completion
- Borrow against the real open market values
- Flexible approach to servicing the advance
- Ideal for auction bargains
- Typically available available for between one and 12 month terms, with the options to renew.
- Interest can be rolled up or serviced monthly depending on the exit
- We will also arrange regulated bridging for those selling their current property to purchase a new one.
Contact us now with your particular requirements.
We charge a typical fee of between 3-10% for arranging Bridging Finance. A typical example would be £2500