Bridging And Commercial

Precise Mortgages to Launch Joint Legal Representation on Bridging Range
The bridging market traditionally insists on separate legal representation for the borrower and lender but from Monday 6th February Precise Mortgages will allow borrowers if they

Football boss to offload £3.5m acquisition at bargain price
In a desperate bid to sell his multi-million pound mansion, which has been up for sale over two years, ex-Rangers director, Ian Skelly, has dropped the

Commercial event of the year exclusively announced
The number one event for the commercial finance industry, the NACFB Commercial Finance Expo 2012, has officially launched and will be open to registrations as of

Behind the Doors of Omni Capital Underwriting
In the first of a brand new series of articles giving you a sneak peek behind the door of bridging lenders, B&C spent the afternoon with

Manager of the Month: Lets be ‘Avenue’
We can today announce the latest winner of the Manager of the Month competition, exclusive for brokers, within the Fantasy Football Premier League, the

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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.
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