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UTB completes triple investment

United Trust Bank (UTB) has bolstered its asset finance business by acquiring three new recruits from lenders including Shawbrook Bank and ING. John Cullingford has been appointed

Commercial Group launches £200m resi range

A property investment firm-cum-lender has announced that it is set to boost its property lending business by a further £200 million. As part of its strategy, Topland

Tax haven super-rich named in £1bn development

After a six-month investigation, the identities of the secretive multimillionaire owners of a £1 billion development in London have been revealed. A private investigator has trawled through

Investors take £350m UCIS operators to court

In light of a growing number of rules and regulations regarding advertising for and the operation of UCIS funds,  a particular case was brought to B&C’s

AOBP Forum: Putting lenders on the spot

Encouraging dialogue between all professionals within the short term sector, next month’s Association of Bridging Professionals (AOBP) member event will provide the opportunity for broker guests

Bridging Loans (Finance)

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Bridging Finance is commonly used for the following reasons:
  • Purchasing property at auction
  • Raise funds for debt negotiation
  • Property refurbishment or conversion
  • Chain-breaking mortgage
  • Purchasing property where the surveyor recommends a retention
  • To help homeowners who have been or are about to be repossessed
  • To stop bankruptcy
  • When funds are required within days rather than weeks

A Bridging Loan is short term finance arranged quickly for a variety of reasons. bridging finance is useful where there is a requirement for finance available speedily with a view to repaying it within a short time. Bridging finance is available for both commercial and buy to let residential property.

Bridging finance has received a mixed press over the years with various sources either advising you to 'steer clear' or claiming it is the best thing since sliced bread. In fact bridging finance falls between the two. Bridging finance is nothing more than an extremely useful financial tool. Used correctly it is an essential facility for many property investors. However it is important to understand the risks as with any finance secured on property. All bridging finance is secured and must normally be repaid within the agreed time.

Closed bridging

Closed bridging is used where there is a defined exit or repayment on a specified date. Both the term and the means of repayment are known and agreed at the outset. This is used for instance where a mortgage offer is in place but the completion may not be for weeks or months, or where an agreed sale of a property is proceeding but cleared funds may not be available quickly.

Open Bridging

** NEW FACILITY Open, flexible, renewable bridging finance! Click here for more

F1 Finance can arrange bridging for a whole range of property finance situations and can be on the basis of a 1st or 2nd charge for any purpose. We are able to arrange competitive bridging facilities through our network of lenders, whether it be licensed premises, office block, land or residential properties. Our lenders will look at all types of security and we can normally arrange competitive quotes for our clients and offer a wide range of products to suit all lending requirements.

THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME.
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE OR OTHER LOANS SECURED ON IT.
Licensed Credit Broker Consumer Credit License Number 649650
Associate Member NACFB