Terms and conditions of business bridging finance
Think of applying online with us for a commercial bridging loan?
Not until you have read through our terms and conditions, to make sure you know exactly how things work, the risks involved and if you would be accepted for credit in the first place.
First of all, you have to have a property to use as security. Practically any type of building can be used, in any condition. That means even ready to be condemned old mills and factories too. Here is a list to give you an idea.
- End terraced
- Mid terraced
- Ex-council house
- Semi detached
- Flat or apartment
- Rest/Nursing/Retirement home
- Mechanics garage
- Retail outlet
We can also accept land. If it has planning consent, it can be for a maximum of three houses or properties. If there is no planning consent, then this can be used as security also.
If you would prefer, you can call us on 0845 467 9798, Alternatively, you can request a call back from us.
Terms of loan
All business funding falls into the unregulated category. This means that it is not governed by bodies such as the F.S.A. or other strict banking directives and codes of implementation. The main benefit for you in this, is that it gives us room to manoeuvre if you don't have a crystal clear credit rating or history. So, if you have been turned down by your bank, yet do have equity built up in a property, the chances are we are going to be able to lend to you.
Minimum term of loan is 90 days on business funding. So your financing cannot be repaid within the first 3 months.
The maximum repayment term is 12 months. That is the longest you can take to repay the full amount.
Interest is calculated and charged monthly, preferrably repaid by direct debit. You only make interest repayments each and every month. If you want to clear the loan, it needs to be done in one lump sum payment.
Any property, properties or land used as security can be liable for repossession should you defualt on interest repayments, or if you fail to clear the full amount within the agreed term of loan.
If you have any further questions, or would like to speak and discuss your bridging needs with one of of our highly skilled and professional representatives, feel free to call us on 0845 467 9798.
Or click either of the buttons below to initiate contact.
We look forward to speaking to you.