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Bridging Finance

EARN UP TO 1% COMMISSION

In line with the recent changes in the mortgage market in the short term, underwriting policy has been amended as outlined below:

Residential Property Cases

LTV'S will be restricted to a maximum of 70% other than in the following circumstances where up to 80% may be allowable

         A full 2nd charge is provided on a secondary property

         A comfort charge is provided on a secondary property with a Maximum LTV of 65% on the 1st charge, accompanied with proof of existing mortgage balance from the 1st charge lender. Property valuation will be by 'Drive By' or AVM.

         The deal is closed via sale (exchange confirmed by solicitor)

Commercial Property Cases

LTV'S will be restricted to 65% other than in the following circumstances where up to 75% may be allowable 

         A full 2nd charge is provided on a secondary residential property

         A comfort charge is provided on a secondary residential property with a Maximum LTV of 65% on the 1st charge, accompanied with proof of existing mortgage balance from the 1st charge lender. Property valuation will be by 'Drive By' or AVM.

         The deal is closed via sale (exchange confirmed by solicitor)

Adverse credit history may result in further LTV restrictions. 

These changes are planned as an interim measure and will be reviewed continuously over the coming weeks.


The Commercial Mortgage Packager can provide short term funding from 30,000 to 2m for both commercial and residential property, at up to 70% of Open Market Value.

Our lenders loans are based on open market valuations rather than forced sale valuations and as a result they can often lend to higher LTVs than other lenders, and can lend up to 100% of the purchase price where the value is higher than the purchase price*

  RESIDENTIAL COMMERCIAL
Maximum LTV First charge 70% of OMV 65% OMV
Second charge 70% OMV N/A
Minimum loan 30,000 30,000
Maximum loan 1,500,000 1,500,000
Maximum term 12 months 12 months (24 months for development finance)
Interest rate from 0.75% a month (variable) from 1.05% a month (variable)
Completion fee 1.5% 1.5%
Legal fees for first property 750 incl. VAT 950 incl. VAT
for each additional property 375 incl. VAT 475 incl. VAT
Legal advice All loans to borrowers over the age of 64 must be witnessed by a Solicitor All 'Guarantor' loans must be witnessed by a Solicitor

Please note the above table is a guide only as we use a number of different lenders to get the best deal possible.

SUBMIT A BRIDGING FINANCE ENQUIRY

FAQ for Bridging Finance

What can I use a bridging loan for?
Any purpose at all, it's up to you.


How much can I borrow?
The minimum amount is 30,000 and the maximum 2 million. However we do have some lenders who will look at higher value deals on a case by case basis.


Are there any application/enquiry costs?
Generally there are no application fees however with some lenders they do ask for an application fee of around 500. This is because of the tight deadlines they are often up against and they will have to instruct their solicitor thus incurring costs. If in doubt ask us we always make sure the client knows the costs upfront.


What costs are involved in the transaction?
A completion fee will be payable upon draw down of the funds, there is a monthly interest payment (from 0.75% to 1.75%), and a valuation fee is normally be required, unless we can get a retype from a suitable surveyor.


Can I apply if I am self-employed?
Yes! Even if you have no accounts, we can help.


Can you help people with CCJs, arrears and/or adverse credit?
Our lenders will independently assess you and provide a tailored service that's based on your clients circumstances and their requirements.


Do I need a solicitor?
You will have the option to appoint your own solicitors. There will be separate lending legal costs and they'll be confirmed in your offer documents.


Can I use security which I do not own for my bridging loan?
Yes, as long as the property owner is party to the bridging loan.

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