BRIDGING FINANCE

A bridging loan or bridging finance is a great solution for clients that need quick access to capital. It is a short-term interest-only loan to ‘bridge’ the gap – or in other words provide some breathing space – while other finance is secured. Smart Development as a fully independent broker has access to the entire bridging market ensuring you get the best available deal. Here are some of the headlines you should know.

• Bridging rates from 7% per anum (average deal is 1% per month)
• Borrow from £10K to £20M
• Up to 80% OMV on residential.
• Up to 70% on commercial.
• Up to 50% LTV on land without planning.
• Valuation and ID only no credit check.
• Fast decisions usually within hours.
• Terms from 1 day to 24 months.