Bridging finance is on the rise, more people are taking out Bridging Loans and the amount of money traded is growing exponentially. By its nature, bridging finance is a quick fix. But it doesn’t have to be boring; yes, it is often used for residential and buy to let properties but this is merely the tip of the iceberg. At Enness, we encounter very exciting bridging finance cases all the time. Here we have outlined 6 interesting bridging finance scenarios that we have found ourselves in in the past.
1) International bridging
At Enness, our bridging finance department is international in its outlook, and not just limited to Europe. Indeed, we have completed deals on the African continent in all manner of industrial areas. Recently, we arranged bridging finance for an investment into a new petro-chemical plant in Ghana.
If your exciting bridging finance requirements are international in their scope then Enness can certainly find a solution to suit your needs.
2) Non land-based construction
Neither are we limited to projects on land. A recent client had always dreamed of building a home on a plot of land within a lake. Cases like this have rarely been attempted, so Enness can really say we are market leaders. Furthermore, the client was 80 years old, showing that our bridging department is not limited by age constraints on borrowers either.
3) Complex cases
We specialise in facilitating solutions for clients who have complex financial situations. Whether their income is tied up in a bonus structure or clients have adverse credit, we have worked with a vast range of clients. Our relationships with individual lenders ensure that we are able to assess each case on its own terms and secure very favourable rates.
4) Property development
For various reasons, you may not have the capital to complete your development within a certain schedule. At Enness we are adept at facilitating development solutions to fit your bespoke needs and this often involves bridging finance.
Enness also have form when it comes to using forward bridging finance with property developers. This involves securing a loan on your next development so that you can move on to your next project before the current development is complete, something crucial for property developers.
5) 48 hour turn-around
What we pride ourselves on at Enness is just how efficient we can be. Bridging finance is exactly that, an urgently needed stopgap to help you facilitate your financial goals. One case in particular stands out here. A client came to us needing to renew his expired loans before the end of the month.
Our brokers were able to secure terms within 24 hours and complete the loan agreement within 48 hours owing to the excellent relationships we have with lenders.
6) Auction finance
The auction world is fast paced, impulsive and often financially rewarding. Properties or expensive items may come up and be too good an opportunity to miss. Enness has a wealth of experience facilitating this type of bridging finance, whether for buy to let investors or even residential properties.
Sometimes, for perfectly valid reasons, your funding will not be available presently at auctions and you may have to take out a bridging loan. Read all about Enness’ offer of a ‘no valuation bridging loan’ here…
If you have any queries in regard to these six exciting bridging finance situations, then please do not hesitate to get in touch, one of our expert brokers will be delighted to help facilitate your unique bridging requirement.