What is commercial bridging finance?
Commercial bridging finance is a short term loan secured against property or land and is typically repayable within 12 months.
Why use bridging finance?
Our clients typically use bridging as temporary finance for a bigger picture. This includes but not limited to the following scenarios:
- Existing funder insists on repayment of lending in a certain timescale
- A quick purchase of investment property is required pending moving to a term loan
- If a term lender has declined to renew your loan
- A quick purchase and sale of a property is required
- Buying property at auction
- Buying a property that requires refurbishment prior to then sourcing term debt
- Releasing urgent cash from owned land or properties to use for other purposes
How do I apply?
Complete the enquiry form on this page, a broker of the Beacon team can then contact you to discuss in more detail the procedure.
What are the timescales to get my loan?
From us submitting your application with lenders, which is usually the same day as receipt, to getting a lenders response can be the next day. Dependent on circumstances we can complete bridging finance in 7 – 21 days.
Rates and fees
Rates and fees vary dependent on circumstances and the lenders we use. These start at 0.7% per month and usually do not exceed 1.7% per month unless there are exceptional circumstances.
A lender usually charges an arrangement fee which is around 2% with some lenders also charging an exit fee on repayment. We ensure you are advised of all fees prior to accepting a bridging agreement.
In addition to lender fees you will need to pay legal fees and surveyor fees, both of which you will be advised about on credit assessment.
Bridging Finance Query Form
Fill out the below form and a broker from Beacon Finance will get back to you to follow up your query.
Why use Beacon Finance to organise a loan?
With extensive experience in securing commercial finance we have the ability to get loans agreed quicker and cheaper than going direct. We use multiple lenders and select the most suitable based on your application with us. We have secured millions in funding for our clients.
What do I have to pay Beacon Finance?
Most lenders pay us a fee upon successfully introducing them a client that takes a loan with them. It depends on which lender we use if we charge you a fee and the amount.
We will fully disclose this to you prior to you accepting a loan.