Putting your mind at ease...   What is a bridging loan?       Bridging loans are high-value, interest-only loans that can be arranged quickly. They are usually short-term loans, to meet specific objectives and are secured on property.     What can a bridging loan be used for?       A bridging loan can be used for any purpose. Typically they fund development of commercial property. In some circumstances they can help make projects economically viable that would otherwise not proceed. They can solve a temporary cash shortfall when buying a property or business, or paying for a major renovation.     Can I borrow on land where there are no buildings?       Yes, provided strict criteria are met. These will be discussed on application.     What are the lending criteria?       The company/individual must be UK based and Bridge Corporate Finance plc must be able to take first charge on the security. Loans to Corporate Entities must be accompanies by directors' personal guarantees.     What security is needed?       Bridge Corporate Finance plc need to take a first legal charge on a property, and may take a first or second charge on a second property.     Does Bridge Corporate Finance plc lend on land?       Yes, provided strict criteria are met. These are discussed on a case-by-case basis.     How much can I borrow?       We can arrange finance, upwards from £50,000 to unlimited. The maximum we can lend will be 100% of the purchase price of the property. Loan to values and interest rates vary according to the transaction criteria.         How long can a bridging loan be taken for?       The minimum term is one week and the maximum is six months. Anything over this is subject to negotiation. An arrangement fee will be added to the advance upon completion. A percentage of the total facility is charged at drawdown.     What is an exit fee?       A percentage of the total facility, paid at redemption.     What are the interest rates?       These are negotiable, subject to duration and security.     Is there flexibilty in how I service the interest?       In some circumstances, interest can be rolled up and added on to redemption.     Do I need a valuation?       A valuation will be required for each loan and is payable in full by the client.     What about legal fees?       The borrower is responsible for the legal fees.       Home | About Us | Lending Criteria | Bridging Loans | Frequently Asked Questions | Press Releases | Our Associates Online Application | Application Forms | Contact Us | Sitemap Copyright 2007, Bridge Corporate Finance plc, All Rights Reserved.