Bridging Finance

What is Bridging Finance?

Bridging Finance is a short-term funding option secured against property or land.

What can Restore Finance offer you? 

  • Competitive Rates from 0.25% pm

  • Up to 100% funding without the need for additional security

  • Loans from £26k with no upper limit

  • Interest can be retained, rolled, serviced or a mixture of these

  • Lending available to individuals, limited companies, partnerships, SIPPs, SASSs, Ex-Bankrupts and applicants with adverse

  • Lending available in England, Wales, Scotland and Northern Ireland

Types of lending covered in Bridging Finance: 

  • Residential buy to lets

  • Commercial

  • Semi- Commercial

All are available in 1st , 2nd or 3rd charge loans.

Detailed below is a more comprehensive review of our bridging finance products:

What to expect from The RFL Team:

 

Loan to Value

 

We have an extensive panel of lenders who use different loan to values (LTV’s). Typically, most lenders go up to 70% LTV, however, we do have a few lenders than can go up to 80%. The value that lenders work from also differs between the 90-day value, 180-day and market value. 

 

Interest Rate

 

The lowest interest rate we offer is 0.25% per month with the highest being 3% per month. To attract the 0.25% the deal would need to be “vanilla” with a low loan to value, an excellent borrower and quality security. The higher rates tend to be used where the applicant requires funds fast and can’t offer a consented second charge and therefore the lender has to take an equitable charge. 

 

 

Arrangement Fee

 

Generally, the arrangement fee is 2% or 3%.

 

 

Security

 

Security can be taken on most properties however, there are also lenders who take security on other assets eg. jewellery, plant and machinery, cars, car reg’s etc. If a deal is greater than the lenders maximum LTV, then the lender will require additional security, this can be taken as either a first, second or equitable charge.

 

 

Serviced / Deducted Interest

 

Interest can either be serviced (pay it monthly), deducted from the gross loan or rolled up.

 

 

Terms

 

Most bridging lenders offer terms from 3-18months. 

 

 

Exit Fees

 

The exit fee can be anything from 0 to 2%. 

 

 

Loan Amount

 

Bridging loans usually start at £26k.

 

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