Ian Broadbent, Director of Holme Finance and Bridging Solutions, shares his view on the last 12 months in the bridging market and what it means for the year ahead…
The financial ‘squeeze’ has brought short term secured lending well and truly into the mainstream. Bridging loans have almost become the go-to loan of choice resulting in the rapid expansion of a number of lenders. It’s nothing new, but the sector has benefited from an increase in understanding and awareness amongst everyday people like you and I.
The flexibility of short term lending is the real pull for clients. Consider the range of options on offer. Advances from £10,000 up to £20,000,000 or more, terms from one month to 36 months and rates from just 0.59% up to 2% plus. This should be surprising given how difficult the traditional routes of funding are.
In addition, security can include land, commercial, buy-to-let, and just about any legal title imaginable. The borrower might be an individual, a limited company, a limited liability partnership or offshore trust, and with income evidence not required, adverse credit not a problem and speedy turnarounds – flexibility has well and truly become the preserve of the bridging loan lender.
However, it is also important to remember that this level of service will only come from an experienced bridging lender who can actually deliver.
The above article was featured in Bridging and Commercial.
We are delighted to be featured and recognised as one of the leading bridging loan providers with a variety of specialist areas making us stand out from the crowd. The article was also shared on their Newsletter. Follow B&C on twitter @BandCNews