Fast short term bridging loans for businesses and property professionals… Do you have an opportunity on your desk that would make you money? Need cash to make the deal happen and have the assets behind you to secure our lending. Then Enable Finance have a fast and flexible loan facility for you to make the most of these opportunities. We look to do deals.
- We could lend up to 75% LTV
- We lend against ANY tangible Business Asset
- Personal Assets can also be used as collateral.
- We lend on all types of property, land or tangible asset: residential, semi-commercial and fully commercial
- We cover all of the UK including Scotland and Wales and in some circumstances Northern Ireland.
- Part built developments / self-build projects also considered
- First and Second charge available
- 100% funding available where additional security provided.
- Rates from 0.59% per month,
- Loan size £50k to £10 million
- Term from 1 day -24 months
Common questions and answers about Business Bridging Loans & Finance
|Q.||How much can I borrow?||Q.||What are the Charges?|
|A.||Typically from £50,000 –|
|A.||Typically between 0.59% – 2%|
|Q.||How soon can I have the money?||Q.||What security is required?|
|A.||It can be done in 48 hours although 7 – 14 days is an average||A.||The loan will be secured on tangible assets such as plant & machinery, vehicles, debtor book, residential property, commercial property or Land.|
|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 50% – 75%||A.||Enable Finance are Bridging Finance Loan specialists|
|Q.||Are there legal costs?|
|What are the monthly repayment costs?|
|A.||Yes and the quicker solicitors are instructed the quicker completion happens.||A.||Monthly interest is charged, typically 0.59% – 2.00% 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.
- Business Assets – Plant & Machinery, Debtor Book
- Business Equipment
- Commercial Vehicles such as HGV’s, trailers and cars
- Residential Property
- Residential Developments
- Commercial Property
- Commercial Developments
- Mixed use property schemes
- Retail Shops
- Land (max 50% LTV)
- Investment Property – Residential and Commercial
- Any tangible asset that has value can be used as security.
- Bed & Breakfast Accommodation
- Farms & Farmhouses
- Hotels & Guest Houses
- Land with Planning
- Light Industrial Units
- Lock Up Units / Garages
- Retail Units
- Semi Commercial Properties
- Shut down Care Homes
- Shut down Pubs
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 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