Bridging finance has come a long way since the days when it was seen as a last resort. Then, bridging was only ever used to close the gap between contracts being exchanged and proceeds received for a house purchase. The market has developed considerably since then, with new lenders and innovative solutions changing borrowers’ perceptions of the industry. It has evolved into a type of specialist funding that does a lot more than just finance quickly.
Since Brexit, a few bridging lenders have stopped lending or shown a significantly reduced appetite, likely due to economic uncertainty. However, pricing across the market has remained relatively stable, with attractive deals still available – especially from the niche and low-profile lenders we have access to.
We are still seeing new entrants taking their place in the industry and trying to muscle in on the busy market with innovative products, particularly for more specialist circumstances.
Securing complex bridging finance
We are extremely adept at arranging all types of finance. We have the expertise to guide you through a market that can at times appear distorted and complex.
We have successfully funded at least two castles, a commercial property where the client purchased on a very short-term basis, and a restaurant that had closed down and needed funds pending the sale of the lease. We also secured finance for a large restaurant that fell into trouble halfway through refurbishment; funds were needed quickly to stop the contractor walking off site and the only security was a short occupational lease on the business (sub 7 years).
In fact, we have funded numerous assets where finance was required in under a week – start to finish. Including everything from polo blubs and buildings with ‘ancient monument’ status, to a remote, specialist data centre with no tenant. We even managed to secure additional lending behind a first charge, where the principal lender would not allow a second charge.
Essentially, we have the proven ability to fund the most complex of assets, clients and situations. We believe if we can fund these, we can finance pretty much anything. Whether your situation is particularly challenging or your requirements are straightforward, the chances are we will be able to assist you quickly and efficiently.
Enness Bridging Finance
Despite some speculation in the wider financial market, the options available when it comes to complex and high value cases remain enticing. This is exactly why we have now launched our very own bridging finance arm, allowing us to pool all our bridging experience and expertise in one place.
We have become extremely well-networked and skilled in this market, with the assets of our wider business profile adding real value. So we are proud to be able to showcase our skills and specialism and continue to successfully achieve the best solution for our clients’ situations.
So if you are in need of short term finance, are concerned about bridging in the current market, or simply unsure whether it is the right option for you, our experts are on hand any time to discuss your finances. Please do not hesitate to get in touch, or visit Enness Bridging Finance for more information.