Bridging finance bulletin
Introduction Any commercial
lender Commercial bridging finance can provide the capital
is authorised to make bridging finance loans. to purchase
commercial property or land and can be available for a whole range of business finance requirements. There are several uses that the commercial bridging loan can be put to such as: • Borrowing money against actual market value of a property rather than a discounted purchase price
• Arranging temporary funding for property, pending repairs
the purchase of an un-mortgagable
• Funding the purchase of a property in need of refurbishment, with a view to resale on completion of the improvements. In these circumstances additional funds can be arranged to cover the cost of the works
• Beating a deadline to buy a property, such as funding the urgent purchase of a property pending arrangement of a long term mortgage
• To enable the purchase of one property before the completion on the sale of another
• The purchase of investment property • Buying properties at auction
Tenure (FREEHOLD/LEASEHOLD)
Alternative Bridging Corp Ltd negotiable
Blemain Finance 50 yrs remaining
Bridgebank Capital negotiable
Bridging Finance Solutions
70 yrs remaining
Brooklin Partnership Plc
55yrs remaining
Cheval Bridging Finance negotiable
Credit & Mercantile Plc negotiable
Devon and Cornwall Securities Ltd 30 yrs remaining
Dragonfly Property Finance negotiable
Eastern Credit Ltd 30 yrs remaining
Finance & Credit Corp Ltd
negotiable
First Merchant Finance Plc
minimum lease 5 yrs
Hampshire Trust Plc 50 yrs remaining
Lancashire Mortgage Corporation
50 yrs remaining
Lowry Capital Ltd 50yrs remaining
Masthaven Bridging Finance negotiable
Mayfair Bridging 75 yrs remaining
Montello Bridging Finance
negotiable
MT Finance Ltd no minimum term
Omni Capital Ptnrs Ltd 35yrs remaining. Negotiable in central London
Peninsula Finance Plc 65 yrs remaining
Precise Mtgs Short Term Lending 30 yrs remaining
Shawbrook Bank 55 yrs remaining
Tiuta PLC negotiable
United Trust Bank 70 yrs remaining (central London - negotiable)
West One Loans no minimum term
Minimum/Maximum Age
Blemain Finance 18 - 80
Bridgebank Capital 18 - no maximum
Bridging Finance Solutions 18 - no maximum
Brooklin Partnership Plc 18 - no maximum
Catalyst Securities Ltd 18 - 75
Cheval Bridging Finance 18 - no maximum
Devon and Cornwall Securities Ltd 18 - no maximum
Dragonfly Property Finance 18 - 65
Finance & Credit Corp Ltd 18 - 65
First Merchant Finance Plc
from 18
Hampshire Trust Plc 18 - no maximum
Lancashire Mortgage Corporation 18 - 80
Masthaven Bridging Finance 18 - no maximum.
Mayfair Bridging 18 - no maximum
MT Finance Ltd no minimum/maximum
Omni Capital Partners Ltd 21 -70
Peninsula Finance Plc - 18 - no maximum
Precise Mtgs Short Term Lending 25 - 70 (at end)
Shawbrook Bank 21-65
Tiuta PLC 18 - no maximum
United Trust Bank 18 - no maximum
West One Loans no minimum/maximum
W M Mann & Co 18 - 60
Alternative Bridging Corp Ltd Blemain Finance Bridgebank Capital
Bridging Finance Solutions Brooklin Partnership Plc Cheval Bridging Finance Credit and Mercantile Plc Dragonfly property Finance Eastern Credit Ltd
Finance & Credit Corp Ltd First Merchant Finance Plc Hampshire Trust Plc
Lancashire Mortgage Corporation Lowry Capital Ltd
Masthaven Bridging Finance Mayfair Bridging
Montello Bridging Finance MT Finance Ltd
Omni Capial Partners Ltd Peninsula Finance Plc
Precise Mortgages Short Term Lending Tiuta Plc
United Trust Bank West One Loans
Procuration fees payable to introducers Determined by intermediary
1% of advance
1% of gross advance paid on completion Determined by intermediary Negotiable
1% of advance 1% of advance paid on completion
0.75% of advance. Key partners 1.25% of advance 50% of arrangement fee 1% of advance 2% of advance Negotiable
1% of advance Minimum 1.25% 1% of advance 1% of advance Refer to lender Negotiable
Refer to lender
0.5% of gross advance paid on drawdown 1% of advance Minimum 1.25% 0.75% of advance 1% of advance
• The purchase of buy-to-let property • Corporate relocation • Tax or VAT payments • The purchase of land • Temporary cash flow shortfalls • Funding stock purchases • Expanding or relocating premises as well as company restructuring • Avoiding bankruptcy
Who may accept adverse credit applications*?
Alternative Bridging Corp Ltd Blemain Finance Bridgebank Capital Bridging Finance Solutions Brooklin Partnership Plc Cheval Bridging Finance Credit & Mercantile Plc Devon and Cornwall Securities Ltd Dragonfly Property Finance Eastern Credit Ltd Finance & Credit Corp Ltd First Merchant Finance Plc Hampshire Trust Plc (Minor adverse)
NACFB patron
Alternative Bridging Corp Ltd Bridgebank Capital Bridging Finance Solutions Brooklin Partnership Plc Cheval Bridging Finance Credit & Mercantile Plc Devon and Cornwall Securities Ltd Dragonfly Property Finance First Merchant Finance Plc Hampshire Trust Plc
Specialist schemes
Alternative Bridging Corp Ltd - Will lend up to 90% of purchase price. Tailored products
Blemain Finance - Non-status, buy-to-let
Bridgebank Capital - Will lend against open market value, irrespective of purchase price. Will consider each application on an individual basis Bridging Finance Solutions - 1st charge lending against open market valuations. Applications considered on individual basis Brooklin Partnership Plc - Non-status and 1st charge lending up to 100% of purchase price Cheval Bridging Finance - Will consider individual specialist cases on an individual basis Credit & Mercantile Plc - Non-status and 1st charge lending up to 100% of purchase price Devon and Cornwall Securities Ltd - True non-status lending Dragonfly Property Finance - Short and medium term loans including buy-to-let and HMO. 100% with extra security. All applications considered on an individual basis First Merchant Finance PLC - Leasehold retail and catering businesses Lancashire Mortgage Corporation - Non-status, up to 100% with extra security accepted Lowry Capital Ltd - Refurbishment finance, auction finance and all types of short term property finance
Masthaven Bridging Finance - Daily interest, no exit fee, 100% finance available. Renovation and refurbishment bridging loan available offering multiple drawdown facility Mayfair Bridging - Offers 1% per month interest rate on deals with 40% LTV based on open market value Montello Bridging Finance - Will consider individual specialist cases on an individual basis MT Finance Ltd - Asset based - non status, foreign nationals, adverse credit, full open market values Omni Capital Ptnrs Ltd All applications considered on an individual basis; development finance available up to 70% on stalled projects within M25 Peninsula Finance Plc - Genuine non-conforming/broad range of property security accepted. Affordability tests for regulated lending must be satisfied Tiuta Plc- Will lend up to 100% of purchase price. Work off open market value and can lend on residential property. All applications considered on an individual basis
United Trust Bank - Short Central London leases considered
West One Loans - Non-status buy-to-let. Customised products
Lancashire Mortgage Corporation Masthaven Bridging Finance MT Finance Ltd Omni Capital Partners Ltd Peninsula Finance Plc Precise Mortgages Short Term Lending Tiuta Plc United Trust Bank West One Loans
Lancashire Mortgage Corporation Lowry Capital Ltd Masthaven Bridging Finance Mayfair Bridging Montello Bridging Finance MT Finance Ltd Omni Capital Partners Ltd Peninsula Finance Plc Tiuta Plc
West One Loans *Applications considered on an individual basis
March 2012
READERS ARE REMINDED THAT BUSINESS MONEYFACTS IS COPYRIGHT
45
BRIDGING FINANCE BULLETIN
Page 1 |
Page 2 |
Page 3 |
Page 4 |
Page 5 |
Page 6 |
Page 7 |
Page 8 |
Page 9 |
Page 10 |
Page 11 |
Page 12 |
Page 13 |
Page 14 |
Page 15 |
Page 16 |
Page 17 |
Page 18 |
Page 19 |
Page 20 |
Page 21 |
Page 22 |
Page 23 |
Page 24 |
Page 25 |
Page 26 |
Page 27 |
Page 28 |
Page 29 |
Page 30 |
Page 31 |
Page 32 |
Page 33 |
Page 34 |
Page 35 |
Page 36 |
Page 37 |
Page 38 |
Page 39 |
Page 40 |
Page 41 |
Page 42 |
Page 43 |
Page 44 |
Page 45 |
Page 46 |
Page 47 |
Page 48 |
Page 49 |
Page 50 |
Page 51 |
Page 52 |
Page 53 |
Page 54 |
Page 55 |
Page 56 |
Page 57 |
Page 58 |
Page 59 |
Page 60 |
Page 61 |
Page 62 |
Page 63 |
Page 64 |
Page 65 |
Page 66 |
Page 67 |
Page 68 |
Page 69 |
Page 70 |
Page 71 |
Page 72 |
Page 73 |
Page 74 |
Page 75 |
Page 76 |
Page 77 |
Page 78 |
Page 79 |
Page 80 |
Page 81 |
Page 82 |
Page 83 |
Page 84 |
Page 85 |
Page 86 |
Page 87 |
Page 88 |
Page 89 |
Page 90 |
Page 91 |
Page 92 |
Page 93 |
Page 94 |
Page 95 |
Page 96 |
Page 97 |
Page 98 |
Page 99 |
Page 100 |
Page 101 |
Page 102 |
Page 103 |
Page 104 |
Page 105 |
Page 106 |
Page 107 |
Page 108 |
Page 109 |
Page 110 |
Page 111 |
Page 112 |
Page 113 |
Page 114 |
Page 115 |
Page 116 |
Page 117 |
Page 118 |
Page 119 |
Page 120 |
Page 121 |
Page 122 |
Page 123 |
Page 124