With access to many Bridging Loan lenders, we are able to match the client's requirements to the most appropriate lender, and source a wide range of innovative and competitive products.
In Commercial Terms, predominantly used to acquire land for development where speed is of the essence. They are also used to complete the purchase or temporary refinance of a property, where a firm sale is agreed within a short timescale and written evidence is available. Bridging Loans can also assist, where a Bank has agreed funding, but there is a delay in the availability of the funds. Short-term bridging loan can be agreed quickly and CCJ's/Defaults are also considered.
Residential property : Up to 70% of Open Market Value. Any purpose. Interest rates vary depending on the proposal. Written illustration available on request.
Commercial property : Up to 65% of Open Market Value. Any purpose. Interest rates vary depending on the proposal. Written illustration available on request.
All types of Freehold property will be considered, but Loan to Values may vary depending on the condition of the property and the purpose it is used for.
Bridging Loan lenders will take additional security to increase the amount available.
All Bridging Loan cases are supported by professionally prepared credit applications, thereby significantly enhancing the chances of our clients securing the optimum financial package. In the current lending climate it pays to have your Bridging Loan application put together by industry experts, who know what lenders are looking for.
Unlike some of our competitors, we do not believe in up front charges. Our fees are only payable when our client has received a formal offer of finance and is usually payable at the time of completion.
For most Bridging Loan applications presented by Sterling Capital Reserve Limited, we will obtain a decision in principle with indicative terms in respect of interest rates and fees within 72 hours.