LOAN CRITERIA 2017-11-03T17:35:08+00:00

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BRIDGING LOAN CRITERIA

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Maximum Loan to Value is 75% of the Open Market Value (OMV) – less fees, costs and interest.

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The most important point to remember when applying for Bridging Finance is that the proposal makes sense. All properties to be offered as security require to be valued by a valuer on our panel. This varies on a case by case basis so please ask for details during the application process. In all bridging loans an exit strategy is paramount.

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EXAMPLES OF EXITS ARE:

  • a concluded missive to sell on
  • a mortgage offer
  • a decision in principle letter from a bank
  • Development Finance offer letter for post acquisition
  • any proof of ability to repay loan after term

Note: The criteria listed here are a general example of a normal set of conditions.

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OTHER CRITERIA & FEES

Loan Term: 1 – 12 Months
Rate: From 0.75% per month
Entry Fee: From 1%
Exit Fee: From nil to 2% depending on the deal
Legal Fees: On a case by case basis
Adverse Credit: Usually accepted but explanation required
Bankruptcy: Accepted as long as discharged

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