Bridging finance can provide a short-term solution to a financial requirement, allowing you to proceed with transactions and acquisitions swiftly. While bridging finance is primarily used in transactions relating to purchase, refinancing or improvement of property, we can make funds of up to £25 million available for any legal purpose. It’s vital you have a firm strategy for how your bridging finance facility will be repaid to the lender, either by the sale of the secured property or by refinancing to a new lender. Having a plan of action in mind from the outset of the financing is essential.
Key features of our bridging finance solutions:
- funds of up to £25 million – available for any legal purpose
- terms of 1 to 36 months available – although 9 to 12 months is more common
- no requirement to prove your income – bridging finance is based upon the value of the asset that secures the finance
- solutions available for clients with impaired credit – because the property asset is considered as security
- rapid completions – bridging finance in as little as 17 hours was accomplished
- funding is available for UK assets held in off-shore trusts.
It’s vital you have a firm strategy for how your bridging finance facility will be repaid to the lender, either by the sale of the secured property or by refinancing to a new lender. Having a plan of action in mind from the outset of the financing is essential.
How auction finance works
Pre-auction funding is the route that assists you in securing your property in the shortest period of time. We aim to assist you in securing finance for your chosen property through our funders, in time for auction day.
If your offer to purchase your chosen property is accepted on auction day, you will have 28 days to complete your purchase. Therefore, by arranging pre-auction funding for your chosen property in advance of the auction, you can save valuable time in completing the transaction and acquisition.
We attend a wide variety of property auctions throughout the year – supporting clients with a vast and varied range of funding requirements, especially at auction sale time. This means our experts are on hand to help arrange finance as quickly as possible.
Key features of our auction finance solutions:
- quick decisions
- funding of up to 75% of purchase price, dependent on location, required term and property type
- 100% funding available with additional security
- funding available for both residential and commercial property
- funding for land with planning permission available
- terms available from 3 to 12 months
- monthly rates from 0.75% (charges and other fees also apply)
- choose from a variety of repayment methods, such as rolling up interest payments, part-payments and full payments over the term.
Development Finance and Senior Debt is available for the following purposes:
- Residential developments
- Commercial developments
- Mixed use developments
- Conversions and refurbishments.
- Land with planning permission
Key features of our development finance:
- Funding available – facilities typically range from £0.5m to £250 million
- Lending on average up to 60% of GDV (Gross Development Value)
- First charge from 65% and more, dependent on project and location
- Facilities usually provide 100% of construction costs, professional fees and interest
- Borrowers should have appropriate expertise and financial standing
- Facilities are provided for terms appropriate to the project, up to 24 months.
To find out more about our development finance, bridging finance, auction finance or other services, please do not hesitate to get in touch. You can use the following contact details, or complete the form on this page to get a speedy response from a member of our expert team.
These are just some of the clients we’ve recently supported with our development finance and bridging finance services. Contact us today to find out how you could join them in our ever-growing list of satisfied clients who’ve successfully completed their financial ventures.
Joint partnership with one partner owning the freehold office outright
We organised funding for the remaining partner to buy out the other and purchase the freehold office continuing the business.
Occasionally budget overruns occur and assisting the developer to redeem with his existing lender not incurring any penalties and raising the extra funds required to complete the renovation on time
A large freehold house requiring funding for urgent works with several unauthorised flats and an enforcement action as planning had not been sought.
We arranged the funding for all works to be completed.
We arranged funding to assist a client with a large £325,000 HMRC demand swiftly as he was not offered any payment plan solution
Another client required funding towards 4 apartments in a freehold block valued at £1.1m on separate titles
The owner required a swift completion and agreed a purchase price of £770,000 which we assisted with raising the full amount required based on open market valuation