Surely I am not the only landlord worried about new EPC requirements?9:44 AM, 17th February 2021
About 3 weeks ago 128
Bridging Finance is often the fastest and most flexible way of raising capital and the most commonly used purposes can be split into 3 categories.
1. A property is unsuitable for mortgage purposes
2. Speed on completion of funds is required
3. Need to raise finance for a business
Bridging Finance was one of the fastest growing niche lending sectors that sprung up after the credit crunch. Many lending firms with money that pulled out of the mortgage industry sought a more profitable return and entered the commercial Bridging market offering a much improved selection for customers than the standard high street lenders who entrenched and pulled lending criteria.
Many lenders now even offer off the shelf Bridge to mortgage options where you can get the Bridging finance and its replacement long term mortgage/BTL agreed at the same time.
As Bridging finance is still mostly a bespoke loan and assessed on an individual project or business plans merits rates and criteria can vary widely dependent on a lenders perceived risk and the margins for profit built into a project.
Key factors in a property secured bridging project for developments and refurbs are:
The more profit available, the lower the loan to value, and the greater the security the better the terms you will get.
If you need any help raising finance of any type please complete the contact form below and our commercial team will do their best to assist 🙂
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