Focus On
Bridging
| SECTOR Bridging overview |
LTV |
COMMENTS |
| Residential Bridging |
75% of sale price/ purchase price; 100% with additional security | 1st and 2nd charges potentially available
|
| 85% of purchase price or valuation (some lenders advertise 100% of purchase price – but conditions apply and case specific) | 1st and 2nd charges potentially available | |
| Commercial Bridging loans |
Only really exist for best quality applicants |
|
| Some lenders lend against valuation – others purchase price |
The Bridging loans market is said to be worth £2/3bn pa. – don’t miss out.
Tips
- Establish what the applicant is trying to achieve with their property/properties and we will then review with our lender panel and provide the most suitable indicative terms.
- Don’t instruct valuations – we can do this.
- If you have an old valuation – send in to us.
- Can they cover interest from income?
- What is the repayment source? If that’s evidenced – we can get better terms.
