BRIDGING LOANS
BRIDGING LOANS
WE ARE EXPERTS IN BRIDGING FINANCE
It’s easy to get lost while navigating all the different types of bridging finance, such as Mezzanine Finance, wrapping your head around what's available and how it works. Get in touch with us and we can get you a quote and help you through the purchase and refinance process.
FINDING THE RIGHT DEAL
The Right Loan for You
Follow these steps before you apply for a bridging loan.
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FIND OUT THE PROPERTY PRICE
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FIND OUT THE REFURBISHMENT COSTS (CONTACT CONTRACTOR)
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FIND THE GDV OF THE PROPERTY
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Once you have these figures you can work out what the profit will be, as Lenders need to know these figures to work out the RISK. They work on a 20% profit to cost for their client.
OPTIONS AFTER BRIDGE
SALE OR REFINANCE
You often have two options after you bridge a property, you can sell the property and clear the existing bridge loan, or you can refinance it onto a long term mortgage (traditional lending) and pay back the bridge loan, keeping the profit. Both are good options, but if you do not have an "exit plan", they are often "exit fees" to pay at the end of the loan so specify this at the start of the project.