
In most cases funds can be accessed in days rather than weeks and are available to meet a differing
variety of needs. Bridging finance is fully secured on property or assets and provided on a status or non status basis.
Typically, clients may require funds to purchase one property before completion on the sale of another or perhaps to buy a property before finishing repairs and enhancing the value to facilitate a higher long term mortgage on completion of the works.
Where clients are intending to purchase at auction, we can arrange a funding facility in advance so that payment can be made immediately on acquisition to bridge the time gap before a term mortgage is in place.
Whilst bridging is more often related to some form of property transaction, there may be other reasons to raise short term finance. For example, if a business is facing an urgent revenue demand pending receipt of debtor income we may be able to secure the funding on a short term basis against property to be repaid from future income.
For residential situations where the client is in arrears and unable to remortgage, we may be able to introduce a 12 month facility to clean up the credit background before remortgaging on more conventional terms without the additional loading which will result from the default on present mortgages.
Bridging rates from .95% pm, completion fees apply and some lenders will charge an exit fee. Interest rollup options are available subject to security.
We provide a free assessment of the financial options without obligation quickly and without fuss in the strictest of confidence and, in most cases, will give an instant decision.
Applying for a short term money loan as a bridging finance is fast and simple and is based solely on the property or asset value. At the Commercial Mortgage Centre we guarantee one to one personal attention from your initial application through to bridging completion. We handle the entire process on your behalf (or that of your clients if you are an intermediary) whilst keeping you fully updated throughout the process.