Bridging & Development Finance York
Bridging Finance In York
What is Bridging finance? Bridging finance is a short-term loan that is used to bridge the gap between longer-term finance. It can be used for broken chains, purchase below market value property, purchase a property for heavy and light refurbishment, deemed unsuitable for mortgage purpose with mainstream lenders eg. no kitchen or bathroom. The key to bridging is to have a viable exit strategy in place before placing the application. Due to tightening and appetite of the mainstream lending, Bridging Finance has experienced huge amounts of growth each year! The demand for Bridging and the willingness of existing/new lenders coming to the market has made cheaper bridging rates than the markets have ever seen
What types of Security can be used for Bridging Finance? – Residential, Land with or without planning permissions, semi-commercial, commercial. This can include the 1st, 2nd and 3rd charge.
What are the criteria for Bridging Loans?
Leading Market Rates
Term 1 – 18 Months
Up to 100% Loan To Value (Subject to additional security)
Rolled up interest or serviced payments
No exit fees
Loans from £40k to £40Million
Development Finance York
Whether you are looking to buy land and build a new property or a permitted development (commercial offices which have planning to change into residential) here at Lincolnmoneyman.com we work with a bridging and development specialist who will work with you to deliver the best development finance for your situations. Whether you are looking at the best terms with a low loan to value, or are looking for stretch senior debt.