Bridging Loans
Unlock Your Property Potential with Fast & Flexible Bridging Loans
Your Partner for Property Finance Across The UK
Are you a property developer or investor looking for fast, flexible, and reliable finance solutions? At Sunrise Commercial Finance, we specialise in bridging loans tailored to your needs. We understand the unique challenges of property development and investment, and we’re here to help you every step of the way.
Why Choose Sunrise Commercial Finance?
- Fast & Flexible: We offer rapid decisions and tailored loan terms to suit your specific project.
- Reliable Expertise: With years of experience in the property finance market, we provide expert guidance and support.
- England & Wales Coverage: We deliver our services across England and Wales, ensuring local market knowledge and support.
- For Inexperienced Developers & Investors: We understand the needs of those new to property development and investment, offering clear, straightforward advice and support.
What are Bridging Loans?
Bridging loans are short-term finance solutions designed to ‘bridge’ the gap between property transactions. They provide quick access to funds, allowing you to seize opportunities without delay.
Common Scenarios for Bridging Loans:
- Property Purchase: Secure a property quickly, even before your long-term finance is in place.
- Auction Finance: Act fast at auctions with the assurance of readily available funds.
- Refurbishment Projects: Finance renovations and improvements to increase property value.
- Development Opportunities: Fund the initial stages of a development project.
- Chain Breaking: Avoid losing your dream property by bridging the gap in a property chain.
Benefits of Bridging Loans:
- Speed: Access funds quickly, often within days.
- Flexibility: Tailored loan terms to match your project requirements.
- Opportunity: Seize time-sensitive property deals.
- Short-Term Solution: Ideal for bridging gaps in finance.
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Understanding Bridging Loan Costs:
Understanding the costs involved is crucial for any property developer or investor. While bridging loans offer speed and flexibility, it’s important to be aware of the various fees that contribute to the overall cost. These typically include interest rates, which are usually charged monthly rather than annually and can range from around 0.49% to 2% per month depending on factors like loan-to-value (LTV) and property type.
You’ll also encounter an arrangement fee (or facility fee), typically 1% to 2% of the loan amount, charged by the lender for setting up the loan.
Furthermore, legal fees will be incurred, covering the costs of both your solicitor and the lender’s solicitor to ensure all legal aspects of the transaction are covered, varying based on complexity.
Finally, a valuation fee is required for a professional assessment of the property’s value, which is essential for the lender to determine the loan amount, and this fee is generally paid upfront and varies with the property’s value and complexity.
- Get a Quote Today! Contact us for a free, no-obligation consultation and discover how Sunrise Commercial Finance can help you achieve your property goals.