- For property development
- For Buy to Let properties
- To raise working capital for most legal purposes
- For property conversion and refurbishment
- To secure a property at auction
- To cover temporary shortfalls in finance
At Niche Financial Solutions we have built a number of Key Partner relationships with specialist Bridging Lenders, who offer unrivalled finance options covering a wide range of circumstances. We can even assist clients who have suffered financial difficulties, including CCJ’s and mortgage arrears.
Bridging loans are available from £25,000 to £10 million, with larger facilities considered on request and terms can range from 1 month to 36 months. Loans are available up to 80% loan to value (LTV) or up to 100% LTV with additional security. Lending is available throughout England, Scotland and Wales.
How Bridging works
Bridging companies assess the viability of a deal based on three main considerations:
Valuation – We generally select a lender who will use “open market value” rather than a “forced sale value” or the purchase price. Use of this “built in equity” can potentially reduce the amount of capital that a client will need to provide in order to purchase the building or fund its development.
Interest – Interest is usually “rolled up” or “deducted” from the advance, hence there are no monthly payments to maintain and this usually eliminates the requirement for income to be proven by way of accounts or payslips.
How you will “Exit” the bridge – the exit strategy is key to any bridging finance deal. This is a short term facility and should be treated as such and we will always discuss the most suitable exit proposal. This may include the sale of the security address, or perhaps a longer term refinancing facility.
We have access to a wide product range and are committed to providing the best terms possible, based on a clients circumstances. Call us today on 01793 324091 to discuss this in more detail.
