It's What We Do

This is definitely the biggest deciding factor for why customers will turn to bridging finance. The ability to get instant lending decisions and completion within days have given people the chance to move quickly when buying at auction or from a distressed vendor.

With no credit scoring techniques used for any of our loans and the ability to look outside the box with a common sense approach, we have been able to help customers that have been turned down by their banks for no apparent good reason.

This is more used with our extended bridge product which allows the client to have a medium term solution for 2 or 3 years. Most banks have a maximum number of properties which a client can own within their portfolio, thus making it very difficult for them to buy more properties. We don’t have this restriction and can therefore assist customers with purchasing further buy to let and investment properties at a time when banks are once again not able to take a view.

We are able to lend to Limited & Offshore Limited companies, SPV’s, Trusts and LLP’s which can be a very tax efficient way of buying properties and is rapidly becoming a more viable option for clients wanting to add to their portfolio.

There are certain banks such as Heritable, AIB, Clydesdale and BOS who have certain clients on their books that have very large portfolios and are paying a margin over base for them. The banks are under immense pressure to get these clients off their books so they can get their money back and lend it out to more customers at a much higher interest rate. This means that the banks are shaving substantial amounts off their balances which gives the customers a reason to move their whole portfolio to us and then refinance it in chunks to other lenders.

Customers are often able to pick up properties or portfolios of properties for cheaper than the market value mainly down to the distressed vendors who need to sell quickly. Most banks will only lend based on the lower of the OMV and PP, making it compulsory for the client to put it circa 25-30% deposit. We can actually take the OMV into consideration in these circumstances and lend up to 85% of the PP (sometimes even more), making it attractive for the client who can then buy more properties as less of a deposit can go into each transaction.

There are many properties which need gutting or refurbishing in order to get banks to lend on them or increase their value to sell on. We are able to assist with the purchase of these and at the same time offer a percentage of the refurb cost.

With bank base rates at an all time low, re mortgaging is sometimes not in the clients best interest. With a second charge bridge which can be used for any business purpose, a client is able to leave their senior debt at the low rate and raise the additional amount needed by way of a second charge which we can write from 1 month to 3 years giving ultimate flexibility to the borrower.