What is Property & Bridging Finance?
This is a form of short-term borrowing, at a higher interest rate than a conventional property loan, often used by property developers and commercial landlords. Funds secured are typically used to fund property purchases at auction and/or fund the costs of developing properties where the intention is to make a quick turnaround to increase the property value and achieve a quick sale at a profit.
Given the type of funding, the lender will require a legal charge against the property and a clear and concise exit route, clearly demonstrating how their funds will be repaid at the end of the term.
Each funder operates their own lending criteria in relation to Loan to Value and appetite for funding developments; with some being happy to look at riskier opportunities however would require a suitable uplift in costs to reflect the risk.
Whether you are relatively new to property development, in the process of building your portfolio or a seasoned property developer / commercial landlord with significant experience, our team has the knowledge and experience to source bespoke funding solutions to meet your requirements. Over the years we have successfully sourced a range of funding facilities to assist clients with acquisitions, developments (from small projects to larger scale sites) and refinancing existing properties to free up capital.
For more information on the individual Property and Bridging Finance products or indeed any of our other products and services, complete the Get A Quote, Contact Form or email firstname.lastname@example.org. Alternatively simply telephone our national rate number 0845 601 5343 or contact your local Harrisons office, details of which can be found within the Contact Us section.