Bridging Loans (or Bridging Finance)
Bridging Loans are secured against property or properties for a short term, usually between one day and 12 months. It is a means to get your clients in a more favourable position to obtain a longer term solution. Traditionally a stepping stone to a refinancing deal or a sale.
Bridging loans can be true equity based lending and at Brilliant we have access to the vast range of lenders enabling us to get the best possible terms for your clients. Brilliant can save you the time in sourcing the best deal and can often obtain terms that are not available if you went direct to a bridging loans lender.
You can choose to let Brilliant deal directly with your clients with the knowledge that Brilliant’s specialist staff will seek out the best deal for their specific requirements whilst respecting the fact that they remain your clients during the process and afterwards – A no cross sell guarantee goes without saying. We acknowledge that speed is vital for Bridging and by speaking directly with the client we can often speed up the process keeping you advised of the progress without any detriment to the commissions you receive.
As a provider of advice to brokers across a range of financial solutions, we are also able to help source alternatives to bridging loans as well as help with the exit or refinance. This knowledge also helps us ensure we get more bridging loans completed as these are key components of any such short term finance deal.
Typical bridging loans purposes include:
- 100% purchase price funding for below market value transactions
- Purchase or refinance property in need of major refurbishment
- Complete property purchase prior to sale of another property
- Borrowing capital quickly
- Auction finance including pre auction facilities
Bridging loans can offer the following benefits:
- Borrow for any legal purpose
- Income is not necessarily required
- Adverse status acceptable
- Choice of repayment methods