Bridging Loans
What is a Bridging Loan?
A bridging loan is an interest only loan, designed for a short period of time - typical 3 to 12 months secured on commercial, industrial property or buy to let portfolios.
Bridging Loans can be completed quickly as there is a lot less red tape than other forms of finance. They can also buy you valuable time when you want to take advantage of an opportunity such as acquiring a property at a one-off special price or if you need to renovate an un-mortgageable property ready for rental or sale.
As the loan is interest only and for a short term, it's important to know how the loan will be repaid. Typically this is through the sale of the property, maybe after it's been refurbished, or by refinancing with another lender on a longer term loan or mortgage.
When to use a Bridging Loan?
A bridging loan can be used for almost any purpose, here are some examples:
- Funding an auction purchase where a deposit has already been paid.
- Funding a planning application to maximise property value.
- Refurbishment finance to maximise potential value.
- Commercial property purchase where normal banking criteria is not met.
- Development properties/site where normal banking criteria is not met.
- Refurbishment finance - to maximise rental income.
We accept the following as security:
- Buy to Let portfolios.
- Commercial & Semi-Commercial Properties
- Auction Properties
- Development Sites
Why use Funding Tribe?
Often described as an 'introducer's lender' we pride ourselves on an intricate knowledge of the property sector and providing knowledgable input to every transaction. Working in partnership with the borrower, valuer and solicitor ensures our processes are slick and quick, with the aim of working together to get the loan completed - and repaid.
As experts in property bridging finance, we can fund most types of property projects.
Funding Tribe will advance up to 70% of your borrowing requirements. Each application will be judged on its own merit. It is easy to apply: simply fill out our enquiry form, or give us a call. Subject to completion of formalities, your short term finance can be available within days.
