The speed and flexibility of bridging finance makes it the go-to funding solution for a variety of circumstances.
A borrower can use a bridge on a first charge basis, like our case study below.
Grade II listed auction property
Our client wanted to purchase an auction property but several factors made this a complex case. Listed buildings are frequently categorised as homes of non-standard construction. Auction houses stipulate that full payment should be made within 28 days of the winning bid being made. In addition, the property was uninhabitable, without a kitchen or bathroom. These factors largely rule out most first-charge lenders.
Our solution
- We brokered a bridging loan as a first charge on the property
- Full payment was made to the auction house within the deadline
- Funds available to refurbish the property in order to refinance with a traditional mortgage
Here are a few key features of the bridging loans we can source for you
- Loan sizes from £50k to £30 million
- Loan terms from 1 month up to 36 months
- Up to 80% LTV (100% LTV available with additional security)
- 2 weeks typical turnaround from equity 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?
