Bridging loans are designed to help individuals secure finance against property in a speedy manner or when the property is not suitable for mainstream lending.
This could include buying a property at auction or a property that is in need of refurbishment, or currently uninhabitable.
- Loans from £25,000 to £5m
- Up to 75% loan to value
- Available for commercial, residential properties and land with planning.
- Completions available in 5 working days
- 1st and 2nd charge lending
- Loan to SPV’s, companies and individuals
- Up to 18-month term
- England and Wales only.
Client needed to raise £600k on a second charge against one of her properties before the end of the tax year in order to mitigate a significant tax bill. Western Money managed to complete this with our legal team within the timescale required (4 days)
- Property Value £2,100,000
- First Charge £900,000
- Second bridging loan £600,000 net
- 6-month term
- 75% LTV