Commercial bridging storming away
The UK economy over the last 3 years has improved a great deal and this has created confidence within the business sector. Gradually over the last 3 years we have seen more bridging business deals complete month on month. It appears this new found confidence remains as last month saw a record number of commercial deals complete in record time.
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 rather than months. This then allows the investor time to find alternative funding for the purchase and thus offering peace of mind.
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 bridging loan is usually secured against the property you are buying but other options do exist.
Most popular uses
There is a huge range of uses for commercial bridging which is far too long to list but the top 4 uses at Fastest Bridging are as follows.
1, General business expansion
2, Purchase of business premises
3, Buy-to-let property
4, Payment of taxation
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 Loans grow rapidly
The bridging loan industry has increase leaps and bounds over the last 2 years setting numerous records for business conducted.
The facts are the bridging loan market grew by 24% in 2014, with the total size of the sector reaching nearly £2.5 billion. What is even more astonishing when you realise that the bridging finance industry has nearly tripled in size over the past four and half years.
2015 is following the same trend with loan applications and completions up by a further 12.5% on the year to date.The vast majority of high street banks and standard lenders still continue to show a reluctance to lend on new developments. Bridging finance has provided an invaluable resource to those looking to secure finance for their projects as the country’s economy continues to grow.The industry’s huge growth shows investors have become aware of the ways bridging loans can help their business grow. This type of funding is so quick to complete in the majority of cases we have seen investors return again and again for funding.
As the bridging sector continues to build on its successes, we are seeing lenders producing more new products to assist the investor. These are very exciting times for bridging finance as the industry looks forward to 2016 and beyond.
Like to know more
If you require more information of how bridging finance can help you please call us and we will be happy to assist. We have a fully qualified adviser waiting to take your call.
Bridging loans are completing even faster
This year has seen a significant decrease in completion time for bridging loans which is indeed great news for the borrower. Lenders have seen their market share grow at a rapid rate as more clients need to complete their financing quicker than the traditional methods on offer, time is money!!
This is very good news for borrowers as delays can cost money. We at Fastest Bridging have seen a 25% reduction in completion time since the start of the year and lenders are looking at ways to reduce time even more.
The market for bridging finance continues to grow month on month as more borrowers require faster finance to secure better prices on property deals. This trend looks set to continue well into 2016 and beyond.
Auction purchases
Investors are turning to the auction market for property purchases as suitable properties are in short supply in high street estate agents. One of the most common uses of bridging is for this purpose as very few traditional lenders have any interest in this type of financing.
Purchasing at an auction usually means exchanging contracts on the day of the sale and then completing within the next 28 days. As we all know a mainstream lender will always take much longer than this to put the funding in place. Bridging finance thankfully is very different as monies will be authorised in days rather than weeks. This type of loan gives the borrower breathing space to secure the correct mortgage to suit their needs. One thing to keep in mind when considering bridging finance is that the lender will need to see a firm repayment structure in place before any funds are released.
Seeking advice?
Our advisers are fully trained and skilled in providing you with a professional fast service to meet all your financing needs. Please do call us to discuss your requirements and we will do our very best to assist you.