Below are some of our most frequently asked questions.
If you have any further questions, then please don’t hesitate to get in touch.
No, we are a lender. We fund you with our own money or via one of our investors.
We lend from £100,000 upwards, unless the bridging loan is one in a series of loans (for example, portfolio purchases), in which case we may consider loans below £100,000.
We don’t have an upper limit.
We can lend to individuals, partnerships, limited companies and LLPs. We do not have any particular restrictions on the legal entity. However, in every case the loan must be for business purposes only; we are unable to provide conventional mortgage funding.
No, we are only authorised to lend for business purposes. We can lend to you in your personal name, but you must be borrowing for business purposes.
We do not place restrictions on the type of property that may be used as security. All common property types will be considered, for example, residential, buy-to-let, commercial and industrial.
Generally, we will charge from 9% per annum.
However, each offer of lending will be different. We will charge a higher interest rates on transactions that lenders would normally consider to be higher risk, for example, lending with a higher LTV ratio.
In most cases, we will charge an arrangement fee of 2%, depending on the circumstances of the deal.
Valuation and legal fees will be in addition to the arrangement fee, but are typically paid at cost or called off our standard fee scales.
Our funding is generally intended to be a short-term measure and most of our clients do not require their funding after 12 months.
On occasion, we will agree to a slightly longer facility if there is a good reason for it.
Yes! We encourage early repayment. Generally speaking, our facilities do not come with a minimum term, unless we have specifically agreed a minimum term as part of an individual deal.
Yes. We always require a independent valuation from one of our approved valuers. We have a large valuation panel that covers all of the UK and all property types. We try to be flexible with valuations and are often able to accept an existing valuation, provided it’s been produced in the last 3 months by an approved valuer.
Provided the security property meets the necessary valuation and the legal work goes smoothly, then it is possible to arrange funding within as little as a week.
However, most loans complete within 2 to 4 weeks.
We are able to lend across England, Scotland and Wales.