Fast Bridging Finance

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    Residential and commercial property investors favour bridging finance as it is a means of accessing funds quickly, whether that’s to ‘bridge the gap’ between financial transactions, to buy a property, or perhaps to stop repossession.

    Whatever your reason for applying for a bridging loan, there are steps you can take to help the application process go as fast and as smoothly as possible. Here are our tips for securing funds fast.

    For more detailed advice and to arrange a call, please fill in our enquiry form.

    How quickly can you get a bridging loan?

    Bridging loans are short-term finance designed for purchasing property quickly. Many lenders can make funds available within 14 days of a successful application.

    The speed at which they can achieve this is down to the complexity of the finance application and the quality of your application. The more efficient you can be in providing the necessary information, the faster the underwriter can make a positive decision.

    Services and interest rates vary by lender and so it’s important to seek the guidance of an experienced broker from day one. Your broker can save you precious time by helping you pull together a robust application and approach the right lenders for your specific circumstances.

    Brokers have good relationships with lenders which can be invaluable if your circumstances are unusual or if you have a bad credit history.

    What is the application process for a fast bridging loan?

    Our suggestions for fast funding via a bridging loan quickly all boil down to being prepared. Submitting an efficient application the first time will greatly enhance your chances of being approved as fast as possible. This is where a broker is of great value, as they will manage the whole process and ensure you fulfil the lending criteria before your application is made.

    1. Speak to a specialist broker that understands the bridging loans market. Most lenders take the majority of their business via brokers with experience in short-term finance as they know the process will be completed quickly and without complication.
    2. Prepare documented evidence. Consider what is needed by the lender to make a fast bridging finance decision. Be ready with a copy of your credit file, your plan for the property and evidence of your property experience to provide the lender with extra comfort.
    3. Be clear on your exit strategy. It’s essential to have a clear exit strategy for a bridging loan, ie. your plan to pay it back and details of the loan security or assets you have to put up. Exit strategies are typically more important to bridging lenders than a spotless credit history.
    4. Obtain a property valuation. Property owners and property developers typically have an idea of their property value, but a lender will require proof. Organising an independent valuation and getting the advice of a solicitor on commercial property transactions can save a lot of wasted time.
    5. Shout about your credentials. If you have considerable experience in property investment and have used bridging finance successfully in the past, then make the evidence clear. Show how you executed your exit strategy and have all paperwork to hand before they ask for it to save time.

    How much can I borrow?

    Bridging finance lenders have their own lending limits based on their criteria. Typically, a standard bridging loan can start at £50k with an upper limit of £10m, or even more.

    Our experienced team can advise you on the maximum loan-to-value for your circumstances and steer you towards the ideal lenders to fulfil your particular needs.

    As with all finance, it is important to factor in interest rates and any redemption fees on your purchase or refinance.

    Quick property purchase with One Commercial Loans

    At One Commercial Loans, we work with brokers that are selected for their knowledge of the bridging loans market and their ability to work to the tight deadlines required by our clients.

    When it comes to fast finance, our team understands the pressures and will work with you to process your bridging loan application as swiftly as possible. With their guidance and expertise, you are in the best position to achieve a positive lending decision.

    Whether you are looking to purchase commercial, residential or semi-commercial properties, we can help you to obtain a bridging loan to secure your deal in good time. For more information and to request a call, please fill in our enquiry form.

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    About One Commercial

    One Commercial have over 100 years of property experience. At One Commercial we like to use a “one stop shop” approach, utilising the whole market to support our clients in a wide range of property related finance.Their job is to make sure that they have done the hard work by matching your situation to the right commercial lender and for the best deal.

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