Bridging Finance Guide

Bridging Finance www.primebridgingsolutions.com. Just come across this video uploaded by another user (original source link is below) who created a quick kinetic typography version of what is bridging finance, how it works and what you need to know when thinking of taking out a bridging loan. Quick text summary of the video below and I have added further information to sections that I believe havent been fully explained. (this text summary is not word perfect and uses different words than the video, it is meant to be viewed as a summary not the exact dialogue). What is bridging finance? It is a short-term highly flexible finance that can be arranged through security over a number of asset classes. How much can I borrow? Get up-to 75% LTV on a first charge 100% LTV with additional security and upto 70% LTV on a second charge. This is true in many cases however our company can and has sourced bridging finance loans upto 90% of purchase price!! Amounts from £5, 000 – £20m available – Most bridging lenders will not lend as low as £5, 000, many firms will only lend £50, 000 due to FSA laws. Some will lend as low as £25, 000. How long will it take? The video states it can fund within 48 hours or more often a week. This again is very unlikely when basing the finance on a large amount for a property purchase or equity release. Most bridging finance cases take 3-4 weeks from start to finish. How long can i borrow for? 1 to 18 months. Again for a short term "payday loan" this is <b>…<b>

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