Bridging financing options expand
2015 has seen bridging finance reach new heights in lending. More and more people see this type of funding to be the way forward. Lenders have been quick to see the potential to introduce new products to fit the growing demand.
All this spells very good news for the borrower as the product choice expands giving more flexibility. We reported last week how fees and rates were reducing in line with mortgages.
As so many changes are taking place on a rapid scale it is certainly advisable to contact our advisers to see what loans are available to meet your requirements. This course of action could well save you a great deal of money in the short and long term.
Commercial bridging
With so many new deals coming onto the market commercial bridging has taken a swift upturn. Traditional banks still see this type of business as viable but the length of time it takes to complete can be very frustrating and many deals collapse due to this problem.
Bridging can take all the frustration out of such a deal often completing in days. This then allows the investor time to find the correct funding for the purchase.
Commercial bridging is a short term loan usually for 12 months or less, which can be used against the purchase of a commercial property. The loan is normally secured against the property you are buying but other options do exist.
Looking for help?
Here at Fastest Bridging we pride ourselves on attention to detail and speed of service so if you need assistance please give one of our advisers a call. We have advisers experienced in all areas of this type of funding and look forward to hearing from you.
Bridging costs reducing
The cost of bridging finance has reduced month on month in 2015 and is following the same pattern as mortgages. Interest rates and fees have reduced significantly over the last two months as finance companies battle for this ever growing market.
Business is flourishing this year as more and more people see this type of financing a very efficient way to go forward. Our advisers are telling us more clients want to complete quickly and then put a better deal in place at a later date.
We reported last week how fast deals can go through and we are pleased to report this week also will see another rapid deal complete on time. This just shows how the keen the lenders are to secure the business that is on offer and this can only be good news for the borrower.
Bridging loans for auctions
This area of investment is one of the most common uses for bridging finance. This year we at Fastest Bridging have seen a large increase of enquires about how bridging can assist at an auction.
Mainstream lenders have little or no interest in this type of funding so this is where bridging certainly comes into its own. Funding can be put in place very quickly which helps the investor meet the auctions requirements.
Find out more
We at Fastest Bridging pride ourselves on service so if you need any assistance or want to discuss a potential deal do call us. Our expert advisers are experienced in all areas of bridging and look forward to being of assistance.
Fastest bridging really is fastest!!
Fastest Bridging have this week completed in record time the purchase of 4 properties for a client in the South East. The houses are to be renovated ready for letting in early May of this year.
We were contacted by the client on Friday 27th February and after discussing the requirements an offer in principle was put in place. On Monday 2nd March at 0915 the client gave the go ahead for the deal. A survey was instructed shortly after the confirmation, we are happy to report the deal was completed and the properties purchased on Friday 6th March.
Our client commented “I had no idea this could be achieved in such a short period of time and I am very pleased with the outcome”. “It was crucial for me to complete as quickly as possible due to the renovation of the properties starting on Monday 16th March”. “Due to the excellent work done at Fastest Bridging the builders will be able to start on time”
The Deal
4 Properties total value £1.6m
Bridging Loan £1m
This deal has followed the pattern this year with bridging loans completing a great deal faster than 2014. Lenders see a massive market for this type of lending and are keen to complete a “clean” case as quickly as possible.
Need some help??
If you require some assistance or advice please do call one of our expert advisers. We are here to help and guide you through the process.