Ensure your customers get the right advice and at the right price, avoid the pitfalls of the bridging market by using an experienced commercial mortgage broker. The most common misconception is that bridging loans are only to be used as means of providing finance to secure a new property whilst waiting for their own property to sell. Bridging finance has many other uses in the current property market outside of this “normal” approach.
Auction properties are a common arena for bridging loans these days with the bridging lenders more flexible in their underwriting and approach. Access to finance is available FAST and allows clients to purchase property quickly and in most cases as a “cash buyer”. We are seeing more and more clients purchasing dilapidated properties to renovate and sell or alternatively keep and rent out. This new purchaser can use bridging finance a “hunting facility” so that when the right property comes up they haven’t got to worry if the finance is available it is a matter of when.
Bridging finance can be used for any legal purpose and can be secured on residential or commercial properties. First, second and even third charges are be available.
Loan to values (LTV) vary across the market with up to 80% available, 100% if additional security can be provided.
Most brokers or introducers that do not understand a product will instinctively shy away from it. The fear of the ‘unknown’ creeps in.
This is where first4commercial.com can help. We provide clear, transparent advice about bridging products and their uses.
With our no obligation FREE quotations, we can place your new bridging enquiry and explain all the costs involved in the transaction before your customer spends a penny.
We pay our introducers 50% of all commission earned, this is typically 1% of the loan amount which is a great additional income stream to any brokers or introducers who do not currently have an outlet for their bridging finance deals.
Double commissions can also be achieved by most introducing brokers & IFA’s by providing a new mortgage to repay the new bridging finance.
Colchicums, The Vale, Stock, Ingatestone, Essex CM4 9PW
T: 01277 620083
F: 01277 658900