Bridging Loan Finance
Fast short term bridging loan finance… Flexibility, fast decisions and reliability is crucial, as borrowers are often under pressure to complete deals within a very tight deadline. There needs to be a short term finance solution that you can rely on and that where Enable Finance comes in.
- Typically we lend up to 65% – 70% LTV
- We lend against OPEN MARKET VALUATION not purchase price
- We lend on all types of property: residential, semi commercial and fully commercial
- We cover all of the UK including Scotland and Wales
- Part built developments / self build projects also considered
- First and Second charge available
- 100% funding available with additional security
- Rates from 1.00% per month,
- Loan size £30k to £2m
- Term from 1 day -12 months
Call: 0800 316 16 12
Common questions and answers about Bridging Loans & Finance
| Q. | How much can I borrow? | Q. | What are the Charges? |
| A. | Typically from £30,000 – £2 Million | A. | Typically between 1% – 2% |
| Q. | How soon can I have the money? | Q. | What security is required? |
| A. | It can be done in 48 hours although 7 days is an average | A. | The loan will be secured on the, residential, commercial property or Land, being financed |
| Q. | What percentage of the value of the property do you lend? | Q. | How can Enable Finance act so quickly? |
| A. | In the region of 65% – 70% | A. | Enable Finance are Bridging Finance Loan specialists |
| Q. | Are there legal costs? |
Q. |
What are the monthly repayment costs? |
| A. | Yes and the quicker solicitors are instructed the quicker completion happens. | A. | Monthly interest is charged, typically 1-2% per month of the loan amount. These payments can be rolled up into the advance. |
A Bridging Loan Can Be Secured against the Following Security.
- Residential Property
- Residential Developments
- Commercial Property
- Commercial Developments
- Mixed Use property schemes
- Offices
- Retail Shops
- Land
- Investment Property – Residential and Commercial
What should you use a Bridging Loan for?
If you’re having a temporary cash flow problem because you are attempting to buy property, or a business, or need to quickly consolidate debts, you need a bridging loan. Maybe you are ready to buy a new home but the sale of your current home may not have cleared? Bridging Finance Loans and short term finance could be the fastest answer to plug a gap
A bridging Finance loan is a short term mortgage which is secured by your property. The bridging loan may have a higher interest rate than your conventional mortgage, but you can gain the loan quickly to bridge the time between your purchase and your sale. They tend to be riskier for the lender who is betting on your situation and will often not worry about any past or current bad credit. These loans are best for the person that is fairly certain of their situation and ability to repay in a few months either through an up and coming remortgage or sale and or indeed increase business volume or expected income
Other types Bridging Loans
