Whether you are a property developer or property investor one of the most common questions we get asked is who is the best bridging lender?
Plenty think they are, especially the ones who are focused on awards but these don’t necessarily mean best.
Best can be:
-Lowest cost over period of loan – This is overall cost rather than rate as there can be exit fees☑
-Least information required – this should never select a lender❎
-Rate and amount of loan aren’t changed unless there is a very good reason☑
-Always deliver, as some don’t always have the money to complete☑
-Will treat you fairly if you are late in repaying your loan rather than take you straight to court☑
-They have good valuers and solicitors that can work with you☑
The ideal scenario is all of them and thankfully we have plenty on our panel who meet the above but very dependent on you, the property and the deal.
Best isn’t always the cheapest rate so if in doubt happy to chat.