A wide range of bridging loan facilities are currently available
As independent bridging loan brokers we have access to and facilities with many bridging finance providers. We are therefore able to provide bridging loans from high street lenders and also many specialist bridging finance providers.
Having a wide range of bridging resources available enables us the ability to find bridging loans for customers who have failed elsewhere. Having a wide choice of bridging loan providers also enables us the ability to find each of our customers the best possible deal for their bridging finance.
The specialist bridging providers that we use exist purely for providing bridging loans and are still keen to lend even though many lending institutions are still reluctant to lend following the problems associated with the credit crunch. These specialist bridging lenders offer a whole range of plans and can provide bridging loan facilities quickly and simply. Because speed is usually a crucial consideration when arranging a bridging loan there are many facilities that do not require income proof or credit checks. Exit plans for repaying the bridging loans are important and so is the valuation of the property or properties that are going to be used as security for the bridging facility.
Some of these specialist bridging loan lenders also provide development finance. Although they have facilities that may disregard Count Court Judgements and past credit arrears, for development loans they will be interested in any relevant development experience that the applicant may have. Lack of experience is not necessarily a problem though, provided that an experienced builder or project manager is employed to undertake the construction work for the proposed project.
Because bridging and development finance are not long term finance options the lenders are not so interested in how any monthly payments are going to be met in the long term. Indeed because they are so short term, many lenders offer the option to roll up the monthly interest charges into the facility so that they are repaid upon redemption of the bridging loan or development finance facility. This facility is popular because it helps cash flow when in many cases there isn’t any income until the project has been completed and is sold.
Whatever your bridging loan needs or development finance requirements, call KIS Bridging Loans to have a free, and without any obligation chat, to see what options and excellent finance deals we can offer you.