Fast & Flexible Commercial Bridging Finance
Commercial Bridging Finance Solutions
This can be used to buy or remortgage a commercial property for your business, an investment property, It may need a full refurbishment or you want to amend the planning.
You might want to get a new tenant in or improve the lease terms.
The high street banks aren’t normally an option due to speed. This is where commercial bridging can help.
It can also be used to purchase commercial property at auction.
Case Study
Their Problem
A new client wanted to buy a warehouse on an established industrial park in East Anglia.
Their existing bankers had confirmed they would help but would not be able to complete within timeframe set by the seller. There was a lot of competition so our client wanted to move quickly
It’s interior condition was poor as it had a very deep tank built into the floor from the previous tenant.
Our Response
As some of our lenders are quite fussy we knew that the property wouldn’t be acceptable to all our lenders due to the tank.
We obtained internal pictures and sent these to our lenders along with confirmation that the tank would be removed at no cost to the client by the previous tenant.
There was a strong exit for the repayment of the bridge. We made sure that the valuer was on both the banks and bridging company valuation panel so there would be no issues during the remortgage.
Result
The client received a 65% loan to value bridge with interest rolled up and four months later moved onto a long term commercial mortgage with their existing bankers after the tank had been removed.
If you need more information on Commercial Bridging Finance contact us on 01565 654005