What bridging finance solution is best for you?

Do you need a fast loan, but are unsure which bridging finance solution is best for you? In a growing and increasingly diverse market, there are a range of options on offer—and this can make the bridging market difficult to navigate. The below is an outline of the different bridging finance solutions we can arrange for you.

If you need…a fast bridging finance solution to buy another residential property before yours has sold

If you need a bridging finance solution to use on your residential property, this must be a regulated loan, overseen by the Financial Conduct Authority. A limited number of lenders offer these loans—using a broker such as Enness, with appropriate industry contacts, is the best way to approach securing a regulated bridge.

If you need… a loan to downsize, before your old house has sold

Again, this will require a regulated bridging loan. This is a clear case of where your exit strategy will be obvious—the proceeds from the sale of the larger property—but presenting your exit strategy appropriately is important, so we will work with you on this.

If you need… commercial bridging finance

Commercial bridges can be unregulated, and accordingly are much faster to arrange; we recently arranged commercial bridging finance in just six days. Whether you’re looking to buy commercial property, fund refurbishment, refinance or have another idea in mind, we can help advise you. Our bridging finance team work closely with our commercial finance division, meaning you can benefit from the wealth of their combined experience.

If you need… international bridging finance

International bridging offers a solution for clients who require short term finance, but the majority of borrowers aren’t aware of it as an option. The most common reason for international bridging loans are to release equity in the short term – for example, whilst waiting for a property to be sold, or to fund renovation work – something which is rather uncommon in Europe.

Alternatively, if you need an international mortgage but do not require a bridge, Enness International can assist you.

If you need… fast finance, but already have a loan secured against your property

Second charge bridges made up 17.2% of the market in Q2 of 2017. If you already have a loan against your property, but need funds to cover a short period of time, we can assist you with second charge bridging finance. This is often handy for business purposes, if you need to release money in the short term.

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