Commercial Finance Group can organise speedy finance for auction purchases, refurbishments or property developments. In most cases no proof of income is required, simply proof of deposit funds.
Draw on our skills and knowledge of the Short Term Finance market to help you:
Find a short term lender for your proposal
Get you a cost structure for the bridging loan that is affordable
Find finance for up to 24 months on first or second charge basis
Points to bear in mind about Short Term Finance:
The market for Bridging Loans is not as structured as the Commercial Mortgage market
There are no standard products for commercial bridging loans
Each case is bespoke underwritten
Lenders usually lend against valuation NOT purchase price
Lenders cost structure is similar to long term finance but lenders have little time to make a margin and risks can be high
Interest Rates are usually quoted per month not per annum
No tolerance for missing payments with short term lenders
Can be used for credit repair
Useful for auction purchases on a buy to sell basis.
We charge £399 payable on 'presentation of a formal offer of funding'. This means if we can't source you a formal offer there will be no fee to pay. In some cases we reseve the right to charge these fees to cover our time in 'assessing and preparing each case' and distributing to lenders. The full terms and conditions will be supplied at the quote stage.
Completion Fees
Completion Fees are payable on 'draw down' of the loan. In most cases these are payable minus the Arrangement Fee already paid. In some cases however these can be charged on top of the Arrangement Fee. The full terms and conditions will be supplied at the quote stage. Please see our table of completion fees below:
Loan Amount | Completion Fee Charged |
£50,000 - £999,999 | 1% of loan amount |
£1million+ |
0.5% of loan amount |