FAQs

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The following are the Frequently Asked Questions on getting Bridging Finance on various Properties in UK

Q. Am I able to borrow finance on a property on which I already have a mortgage/other charges?

A. Yes. We can obtain 2nd and 3rd Charges, subject to equity in your property.

Q. Can I apply if I am self employed and do not have a set of accounts?

A. Yes. Lenders are mainly interested in the security and exit.

Q. Can I convert my bridging loan into a longer term loan?

A. Yes. As Discount Mortgages are regulated we can offer buy to let or residential mortgages for your exit.

 Q. Can I make capital reductions?

A. Yes, at any time. This will reduce the balance outstanding as well as your monthly repayments.

Q. Can I pay off my loan early?

A. You may pay off your loan at any time. If you took out a 6 month loan and interest was deducted in advance any interest not used will be refunded.

Q. Can I protect my loan repayments?

A. We can obtain life assurance on your loan if required.

Q. Can you help people with County Court Judgements (CCJs), arrears and/or adverse credit?

A. Yes we can but the rates start at 0.99% and most acceptable exits are sale of property.

Q. Do I need a solicitor?

A. Yes. Costs vary for each lender

Q. Do you lend to Limited Companies?

A. Yes and SPV inc off shore SPV

Q. How long will it be before I receive my funds?

A. Typically this take between 5 days and 2 weeks depending on your solicitors. Offers can be made same day subject to valuation.

Q. How much could I typically borrow?

A. Bridging loans are available from £25,000 – £50 million

Q. Is there a charge for making an application?

A. No

Q. What can I use the Bridging Finance loan for?

A. Your unregulated loan can be used for any business purpose

Q. What costs are involved in bridging finance?

A. £399 admin fee once case agreed by lender

£350 valuation fee subject to property value and location

2% lenders arrangement fee

£750 lenders solicitors fee subject to lender

Q. What is the monthly rate?

A. Interest rates start from 0.65% per month at 40% LTV

Q. What type of security can be lent against?

A. Lenders will lend on most types of residential, commercial or semi-commercial properties inc land.

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