Bridge Finance
What is Bridge Finance?
Bridge Finance is usually a way of quickly raising short term finance secured against property, usually within days. Typically used to bridge the gap between purchase and either traditional finance or sale.
We as Equity Track have no rigid underwriting criteria, so this allows us to look at each transaction on its individual merits. We assist the mortgage broker to re-finance a property where appropriate, facilitating the shortest possible term and keeping costs to a minimum.
What do we offer?
- Same day decisions.
- Simple non-status applications.
- Rapid availability of funds, often within 24 hours.
- Up to 75% LTV on open bridges, 85% LTV on closed bridges.
- 100% purchase finance available.
- Fees added to the loan.
- Roll-up of interest for initial period.
- We lend against value not purchase price.
- All property types considered.
What does this achieve?
- Clients are able to negotiate purchases as virtual cash buyers.
- The deal can be secured now, while traditional funding is arranged in the background.
- Maximise gearing.
- Minimum cash is put into a transaction - allowing faster expansion with the same funds.
