The speed and flexibility of bridging finance makes it the go-to funding solution for a wide variety of circumstances.
A borrower can use bridging to create opportunities for profit where other funding solutions won’t be available, like in our case study below.
Developing an uninhabitable property
Our client, an experienced property developer, spotted an opportunity to purchase a repossessed property at a price below market value at £800,000. After renovation, the property would be worth £1,150,000. The client required a bridging loan of £520,000.
The challenge
- The property was uninhabitable so our client could not apply for a Buy-to-Let remortgage with a traditional lender.
Our solution
- We brokered a 6-month bridging loan for £520,000.
- Our client was able to transform the property into a habitable state.
- Six months later they were able to apply for a Buy-to-Let remortgage using a high street lender.
At Enterprise Finance, we can access rates from 0.44% a month. Here are some more key features of the bridging loans we can source for you:
- Loan sizes from £50k to £30m
- Loan terms from 1 month up to 36 months
- Up to 80% LTV (100% LTV available with additional security)
- 2 weeks typical turnaround from enquiry to completion
Not forgetting unrestricted upper age limits and all credit profiles considered.
With over 16 years’ experience and access to a range of lenders, why not contact us now? Get a quote here or drop us a line to discuss your clients needs on 020 8731 5333
