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If you are looking for a bridging loan, you could try Montello Private Finance they are funded by private money, which has got to be better than relying on bank funding in the current climate!
www.montellofinance.com
We also have private funds for bridging finance and are keen to lend in London, feel free to call me on the numbers below and I would be happy to help or discuss your situation.
Michael 0845 260 22 10
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∙ 14y ago
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What exactly is bridging finance?
Bridging finance is a term used to connect financial matters. BNET is a source that is excellent for all things business and financial. You can use this resource to look up bridging finance in more detail.
What is the best company offering bridging finance?
According to their web page MT finance was offered an award as best bridging finance company in the UK. Bridging Finance Limited and 1st Bridge are also well know names in the field. Best of course would completely depend on your personal needs.
What is the difference between a bridging loan and development finance?
When comparing bridging loans to development finance, there are certain parallels. Both financing methods are solely meant for short-term use and can be used to fund the construction of new properties and the renovation and restoration of old and decaying ones. A bridging loan or development finance facility must be returned once the project is completed. This could be accomplished by refinancing or selling the completed property using a long-term financing option such as a commercial mortgage. Development finance can be carried out for up to three years, although bridging loans are often only for one year. Property development finance is frequently the preferable option for new construction and restoration projects because it is often less expensive due to lower interest rates, and the revenues of the loan can be disbursed as needed while work advances, providing for even more interest savings. Development finance sources highly value previous development expertise; therefore, a bridging loan may be your only alternative if you don't have it.
Is their a need to regulate montello private finance with the fsa?
From looking at their website (which can be found in the related link section below), Montello Private Finance is a specialist real estate bridging financier based in London. They are not required to be authorised with the FSA because they are only involved with loans that are either second charge, or first charge over investment residential or commercial property (ie they are not involved in the 'home loan' market).
Where can a person find information about bridging finance loans?
You can find out information about bridging finance loans by visiting, calling or emailing your current bank who should be able to give you detailed advise. You can also ask at other banks if you are looking at moving your loan.
Will bridging finance be helpful when one has run out of options?
"In the United Kingdom, bridging finances is a very popular thing to do if a business is in trouble. It allows the company access to funds when they need it if their business should run into trouble."
What is property finance?
Property finance is the immediate financial help to recover the financial gap that appears because of sudden property investment.
How much deposit do I need for a bridging loan?
Deposit requirements for bridging loans depend on the type and application. Residential bridging loans have higher deposit demands as compared to mortgages. Generally, a lender expects you to put in a deposit of 30-35% of the property’s value. The borrower may be asked to provide more deposits if the bridging finance deal carries any risk adding uncertainty to the exit strategy. If you are an experienced investor or developer, your background in the building industry can help instill trust in your lender, convincing them your plans are achievable. If you have poor credit reliability and issues that make the exit strategy difficult, and if things go south, your property is likely to be mortgageable for the loaned amount, your lender may not ask for an extra deposit.
Where can a finance mortgage be sought?
It is advised to have a specialist in finance mortage like a lawyer to get a suitable solution. For example, finance mortage London (capitalfortune) is a place of consultants on finance mortage problems, especially in London.
What is the purpose of a quick bridging loan?
The purpose of a quick bridging loan is to enable a person to complete the purchase of a property when they are still waiting to sell their own home. It provides a short term solution.
Property Development Finance?
Finspace finance brokers are here to help you achieve your property goals as quickly and efficiently as possible.
What type of products does Finance House provide?
Finance House provides the following products: Asset finance, acquisition via share capital, commercial investment properties, development finance, investment property, leisure industry mortgages and finance, off-shore finance, property finance, trade finance and working capital finance.
