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We're ready to discuss your client's situation and provide immediate access to our panel of market-leading bridging finance lenders, talk to Enterprise Finance today.
This information is for professional intermediary use only and must not be distributed to potential customers.
Bridging loans are short-term interest-only loans commonly taken out by clients needing immediate access to funds. We work on your behalf to deliver access to market-leading rates, with rapid loan completion as standard.
Loans secured against properties that are the borrower's main residence or will be occupied by any member of their immediate family
Regulated Bridging LoansLoans secured against property that are not the borrowers main residence and are used for business or investment purposes.
Unregulated Bridging LoansShort term finance for buying or refinancing commercial premises or land.
Commercial Bridging LoansFinance or refinance of un-mortgageable properties often requiring heavy refurbishment work.
Refurbishment FinanceDelivering short-term finance on an interest-only basis, bridging finance provides an opportunity to generate funds for purchase, building works, renovations, and much more. At Enterprise Finance, we consider all property types and scenarios, providing opportunities for those who:
Have to undertake immediate renovations to property.
Looking to purchase a property but are yet to sell their existing one.
Would you like to purchase a propery at auction.
Want to convert an estate into several separate properties.
Wish to acquire an uninhabitable property or extend a lease.
Need additional fund to rescue a broken property chain.
Speak to one of our experts and see how we
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We pride ourselves on speed, expertise and efficiency of placing the most complex cases. Read some of our amazing case studies and examples of how even the most challenging situations the team have secured finance for our clients.
November 7, 2019
Bridging loan FAQs
A bridging loan is a short-term interest-only loan available to those that need immediate access to capital. Usually used for a property purchase, it is a loan to ‘bridge’ the gap while other finance (such as a mortgage or sale of property) is secured by the borrower. Bridging finance is secured, meaning the borrower uses property (or land) as security to the lending institution.
Any individual or limited company can apply for a bridging loan.
Bridging loans are mainly used by clients who need quick, short-term capital to fund a property purchase. They include those who:
Your client can borrow against residential, semi-commercial (such as a shop with residential units above it) and commercial properties - in any state, including half built or fire damaged. We can also arrange lending against land, with or without planning permission.
As bridging loans are for the short-term, each client must have a plan in place to pay off the loan. This is known as an ‘exit route’ or 'exit strategy'. A viable exit route is a must on all bridging loan applications. Typical strategies include sale of property or refinancing onto a longer term mortgage.
A bridging loan can be taken out from one day up to 18 months.
The minimum amount for a bridging loan is £26,000. The maximum is subject to LTV and property value, and is typically at 80%. We work with lenders who will go to 100% LTV with additional security. At Enterprise Finance, we have vast experience in securing multi-million-pound loans.
Our experience means that in most cases we will be able to confirm almost straight away whether your client’s application is likely to be successful.
From the initial enquiry through to completion, our average turnaround time is between two and three weeks.
This depends on the borrowing circumstances. However, interest rates are usually between 0.44% to 1% for each month of the loan, and the borrowing is done on an interest-only basis. There are no Early Redemption Charges, but a minimum of 1 month's interest will apply.
Yes, clients can repay a bridging loan at any time, typically with no early repayment charges (ERCs).
Help your clients access equity in their property with second charge mortgage guidance from Enterprise Finance. We deliver access to the best loans on the market, a fast process and no upfront costs.
View ServiceExperience lightning-fast development finance support from Enterprise Finance. We have the knowledge, experience and expertise to help you secure the funding needed to take advantage of a development opportunity.
View ServiceIdeal for clients with circumstances a little more out of the ordinary, we can help secure funding for a wide range of scenarios, and deliver a tailored solution.
View ServiceAccess to market-leading rates, with unique, tailored commercial mortgages through Enterprise Finance. We'll assess cases the high-street can't and manage your clients' applications from cradle to grave.
View ServiceWe're ready to discuss your client's situation and provide immediate access to our panel of market-leading bridging finance lenders, talk to Enterprise Finance today.
Enterprise Finance Ltd is authorised and regulated by the Financial Conduct Authority. Firm Reference Number: 302964. Certain types of loans are not regulated, for example loans for business purposes or certain buy-to-lets. Enterprise Finance Ltd is registered with the Information Commissioners Office.
Registration Number: Z6765361 Enterprise Finance Ltd is registered in England and Wales. Company Number: 04440152. Registered Office Address: 3rd Floor, Premiere House, Elstree Way, Borehamwood, Hertfordshire. WD6 1JH.
This information is intended for professional intermediary use only and must not be distributed to potential customers