Bridging Loan Open Market Value
We can provide bridging loan options and then provide mortgage solutions once the bridging loan is no longer required.
Bridging loans
Bridging loans are a type of short-term finance that can give you the opportunity to access a large amount of finance in a small amount of time. Bridging loans are ideal for short-term usage and can be used to temporarily ‘bridge’ the gap if there is a shortfall in funding until long-term finance is in place.
Bridging loans offer you the chance to avoid monthly interest payments, as they often come with the option to ‘roll-up’ interest to pay at the end of the term of finance. This could allow you to use the entirety of the bridging loan for its intended purpose and not for servicing monthly interest payments.
You will need to have a clear exit plan in place in order to secure a bridging loan. An exit plan is the method which you intend to use to repay the loan at the end of the term of finance. An exit plan could be securing long-term finance such as a mortgage, or using the proceeds of the sale of a property to repay the bridging loan.
Why use our open market value bridging loan
We offer an open market value bridging loan service for our clients. Our open market value bridging loan can get you the finance you require when time is of the essence. Our open market value bridging loan service means that you can use your property as an asset to secure the bridge and access the loan size equivalent to the price at which your property would trade in a competitive auction setting.
Other bridging loan lenders, such as 90 day and 180 day value lenders, may only provide finance to match what your property may attract in a 90-180 day sale. This could leave you with a shortfall in funding and require you to approach another lender to secure the finance you need. Unlike other lenders, we have access to bridging loans that will give you finance that accurately reflects the value of your asset, to ensure that you have adequate finance for your needs.
Next steps
If you are in need of an open market value bridging loan, call us on 0117 313 6058 or complete our request callback form.