Charleston Financial is quickly establishing itself as one of the market leading bridging packagers, we are growing our lending panel continuously and are confident that with our competitive remuneration package, and our dedication to providing our introducers with a unrivalled service, once you start placing business with us you will never look back.
What are the benefits of bridging finance?
- By arranging bridging finance for you customer, you are providing yourself with more time to put a term facility in place.
With term lenders now taking even longer to make decision, this is imperative in some cases especially when the customer has agreed a purchase at auction or has a tight completion dead line.
By completing their purchase on a bridging mortgage you are putting yourself in a position to be able to obtain the very best end mortgage for your client. - Potentially earning two commissions if you are providing the client with the exit facility
- If providing bridging finance for a portfolio lend, you are establishing a route of repeat business
What purposes will my client require bridging finance?
There are multiple reasons why customers will look to obtaining bridging finance, however the following reasons are generally the most common examples of bridging.
- Chain Breaker
Your customer needs to complete before their existing property has completed, so long as their is sufficient equity in the property for sale we can look to arrange 100% of the purchase price on the new property
- Auction Purchase
Your customer has agreed a purchase at auction, they will generally have to pay a 10% deposit on the day of auction and will have 20 days to complete the transaction under contract, this will generally not be achievable through a term mortgage so bridging finance will eliminate the risk of the client being in breach of his contract conditions and potentially losing the deposit.
- Discounted Purchase Price
Your customer has agreed a reduced purchase price with the vendor (a variety of reasons are acceptable) and wishes to borrow against the full market value instead of the purchase price.
- Cash Flow Resource
Your customer needs to release equity from their property for a variety of different reasons; we will require strong evidence of the intended exit on these occasions
Other purposes (not exhaustive)
- Property refurbishment
- Equity release
- Property conversions
- Portfolio portfolio
- Distressed purchase
- Speedy purchase
- Below market value purchase price
- Short-medium term buy to let
- Development project
- Investment purchase
- Semi commercial properties
- Business purchase and secured loans
- Portfolio restructuring
In order to discuss your bridging enquiry further, please contact out sales team on 0800 612 3167 or click here to submit your details
