Bridging Loans

Most of our business is taken up providing bridging loans to business. Interest rates for standard bridging loans go from 0.5%pm to 2% per month but rates between 0.70% and 1.25% are most common. We also have two funds for emergency, very fast bridging loans where the rate are fixed at 2% and 3% pm respectively. The 2% fund has an arrangement fee of 3% and an exit fee of £2% but the 3% fund has no entry or exit fees. Please look at our dedicated page for these funds.

 

Most of our bridging requires a valuation report and we can fund deals in less than a week but the standard turn around for most lenders is 2-6 weeks depending on how complicated the legals are. Rates start at 0.5% per month up to 3% per month but rates between 0.70% pm and 0.95%pm are the norm for a standard commercial bridge. We can fund up to 75% loan to value but this figure varies from deal to deal and may be lent against the market value or the 90 day of 180 day value depending on the circumstances. We nearly always fund against the purchase price and not the value if the purcahase price is less unless there is additional security or there are exceptional circumstances justifying a different approach.

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Please remember our bridging loans are for business purposes only and we do not provide regulated loans. This means we cannot arrange finance based on a first charge on your own home even if it is for business purposes. We can arrange second charge loans for business purposes only, and first charges on commercial property of all types and land. If a first charge loan on your own him is required we can put you in touch with one of our contacts who may be able to assist.

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Should you wish to enquire about a bridging loan, fill in our application form or quick enquiry form or call or e-mail us.