Who can we help?
With the entire alternative finance market at our fingertips, businessagent.com can help you secure loans for all purposes – from commercial or semi-commercial property loans secured on land and/or property and Buy to Let loans, cross-charging arrangements to bridging loans for credit repair, refinancing or auction bridging and more beside.
Here are some examples of how Bridging finance works in practice:
Case Study 1: Bridging Loan for Property Refurbishment
The run-down state of the property Mr Adams from Hitchin wanted to buy made it ineligible for conventional mortgage finance until repair and refurb were complete. Thanks to the introduction businessagent.com made with an alternative lender Mr Adams had bridging finance in place within days, with an amount sufficient not only for the purchase but also for the complete refurbishment project. Having completed within the projected timescale, Mr Adams was able to sell the property at a substantial profit and repay the loan.
Case Study 2: Bridging Loans for Residential and Commercial Property Development
Mr Kaplinski from Northampton was approaching completion of a small private housing development comprising three detached houses and four terraced cottages when he ran out of funds, leaving the properties exposed to the elements by their unfinished roofs. The alternative bridging finance provider we selected was quick to realise the potential of the project and stepped in with a programme of stage payments that meant he could finish the project and go quickly to market.
Case Study 3: Second-Charge Bridging Finance
Mrs Miller of Bristol was renovating a house and urgently needed £50,000 to finish the job. Because it wasn’t her main residence and was anyway in a poor state of repair, she couldn’t secure finance on it. And her home was already mortgaged at a good rate that she risked losing by remortgaging. The alternative provider we recommended came up with an elegant solution – a second-charge bridge secured on her main residence that enabled her to complete the second property’s renovation and get it on the market.
Case Study 4: Cash Release Bridging Loans
Uninsured losses after her house was extensively flood-damaged meant Mrs Ryan from Cockermouth urgently needed to generate some cash from the remaining equity in her property. Traditional lenders couldn’t help because it was in such disrepair but businessagent.com introduced an alternative lender who rapidly arranged a bridging loan on a non-status basis. Once the house was good as new, Mrs Ryan was able to repay the bridging loan by means of a conventional remortgage.
Case Study 5: Bridging Loans for Credit Repair and Consolidation
Freelance graphic designer Mr Chipperfield of Hunstanton was owed large sums by a major client, leaving him with no income for several months. The resulting mortgage arrears meant he would soon have his home repossessed. The bridging loan specialist we put forward rapidly put his mind at rest by stopping the court action and providing a bridging loan that rolled up his arrears and other debts. Now in good standing with his creditors, Mr Chipperfield had time to recoup the money owed and begin repair his damaged credit history.
Case Study 6: Bridging Loans for Property Development Refinancing
Mr Gee of Stevenage had just put the finishing touches to his latest property development and was keen to break ground on a new development of townhouses. Trouble was, he had yet to sell the first one and needed the profit to begin work. By securing a bridging loan on the completed property, the lender we suggested enabled work on the townhouses to begin almost immediately.
Case Study 7: Bridging Loans for Property Buyers at Auction
Ms Brodie and her partner had stumbled across her dream cottage, which was up for sale at auction. She desperately wanted to bid but the auction house terms stated that she had to make the purchase within three weeks of the auction – and no conventional mortgage lender works that fast! Introduced to a source of bridging finance by businessagent.com, she won her cottage paid for it straight away and was able to repay the bridging loan from the mortgage she subsequently arranged.
Case Study 8: Bridging Loans for Land Purchase
Spotting a plot of brownfield land that was ripe for development, Mr Norbury of St Albans wanted to snap it up quickly before it went on the open market at a higher price – but without planning permission was struggling for acceptance from conventional financial providers. With our help he quickly secured a bridging loan to buy the land – and buy him time to secure planning permission and longer-term finance arrangements.
These case studies are examples of the type of work we have completed. The characters are fictional to protect the confidentiality of our clients.
Please remember, your house/assets/property may be repossessed if you do not keep up with repayments on a loan that is secured against it.
Call us now on 01920 486440 or Apply Now.
