Loans Starting from £25,001 or less
Even if you require a relatively small loan we can help. Minimum loans
usually start at £25,001 although we do have access to select
lenders who specialise in even smaller sums. The finance can be secured
on commercial property, residential property or land and as a first
or second charge. Subject to status we can raise finance for well over
Fast Loans for employed or self employed, without proof of income, impaired credit, individuals or companies
As lenders and brokers we have arranged finance any purpose for clients
who are employed or self employed, for clients who cannot prove their
income, clients who have impaired credit and also for limited companies.
Each loan comes with a maximum term of up to 12 months. Extensions
and longer terms may be granted in certain circumstances
Our usual term for finance lenders is between 3 and 9 months however we can arrange longer terms subject to status. We would not normally exceed 12 months although we do try to be as flexible as possible and providing the client keeps in regular contact we could look to extend the bridging loans terms after expiry on a month by month basis.
Flexible and Bespoke underwriting and Lending Criteria
Our panel of lenders use a large degree of flexibility when underwriting. Through
our contacts, associations and private agreements in the world of property
finance we also have the ability of knowing which case can be submitted
to which company. Due to this we are very confident in saying that "if
we can't find a home for bridging loan requests then nobody else can".
Highly Competitive Loan Rates
Our standard bridging finance rates are already highly competitive. We also
have a bespoke approach which allows us to reduce, remove or minimize
set up fees for repeat clients and preferred business and also to reduce
rates where applicable.
Property finance loans normally up to 70% of the property valuation. In specific situations 100% bridging loans are also available.
Our normal short term loans will not exceed 70% of the valuation of
the property however in certain circumstances where for instance a property
is being purchased for substantially below market valuation or when
additional security is being used we can allow loans for the full purchase
price of the property.
Funds can be issued within several days of initial contact
Most property finance companies state that funds can be released quickly but
in reality this is pure fabrication and with many loans, it can take
longer to arrange than with more traditional forms of finance such as
a mortgage. Through our extensive trials we have located companies who
are geared to release funds in days of contact not
weeks or even months. We also have our own underwriting and finance
lending facility where depending on the case we can act very quickly
and release the loan within a few days of the original request.
Immediate loan decision in most cases
We rarely have applications for loans where we are unsure of whether or not we can place the case. We have vast experience in the use of finance and are approached about many potential uses of bridging finance on a daily basis. We could normally give you an immediate answer on whether or not a bridging loan can be used for your requirements.
Funding for UK residential property, commercial or land deals. Land
or property owned by a 3rd party may also be used as security for your
Our loans can be used for any use and can virtually be secured subject
to agreement on all immoveable residential properties, land or commercial
property within the UK.
Payments can be made in two ways either by including payments within the loan any purpose amount so monthly instalments are not required or payments can be made monthly.
We look at the situations and requirements for our short term finance in many different ways. For example if the loan lenders are to be used as development finance to buy and renovate a property by the applicant who will have no other source of income until the renovation is complete we would where possible try and include the monthly payments within the loan amount so in this instance monthly payments will not be required.
Example - the loan required is for £50,000 over 6 months. The monthly
payments of approx £750 x 6 would be included in the advance making
the total loan advance to be repaid without any additional fees approximately
Alternatively payments can also be made on a monthly basis.
1st or 2nd charge loans available for fast finance
As our associate companies are licensed both under the Consumer Credit Act and Financial Services Authority we are therefore authorised to lend in both Regulated and Non Regulated areas. As such our loans can be secured on property as either a first or second charge. A first charge bridging loan means that we are the only charge on the security address. A second charge loan means that our charge will be registered and ranked behind a first charge lender such as a standard mortgage.
Scenarios comparing different types of loans
Any purpose finance can be arranged in one of two basic ways - "open
ended" or "closed".
An open ended bridging loan requires no pre-arranged exit for the lender where as a closed loan has a guaranteed exit. As a closed loan is less risky the lender may charge a lower interest rate. The exit is normally in the form of a sale where contracts have already been exchanged or another similar legally binding agreement. Closed loans generally are for a much shorter term than an "open bridge" however funding of up to 12 months should still not be a problem. The rates for an open bridging loan can be higher than for a closed loan due to the increased risk for the lender. An 'open' bridge has a less secured exit route and can be used for buyers who have seen their ideal property purchase but have yet to sell their own. With an open loan a responsible lender will usually ask more questions and request more supporting documentation to ensure the applicant will be able to repay the loan by the end of the agreed term without difficulties. A lender will also insist that the property has an agreed amount of equity remaining once a bridging loan has been activated. An open loan may also be used if the applicant is in fact seeking a mortgage (which has not yet been agreed) to remove the bridge. The open nature and uncertainty of an open bridge means higher interest rates and higher loan costs. The benefits are that bridging finance is delivered fast.
There are many types of loans that can be used as interim
finance. When it comes to link lending, commercial finance, commercial
loans or anything related with finance, we are the experts of the industry.