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Winchester Financial Funding Limited is a Commercial Finance Credit Broker and not a Lender

Bridging finance

Winchester Financial can help you with short term finance requirements through relationships with reputable bridging lenders. We can arrange fast Bridging Loans, allowing you to take advantage on a purchase opportunity.

Short-term financing, from 1 month to 18 months, until the borrower sells on or obtains more permanent, lower cost financing.

With many bridging finance lenders to choose from selecting the right one is critical to the success of your project. Trust Winchester Financial to find the right one for you, we will help you throughout the process and if required, negotiate on your behalf.

A Bridging Loan or Bridging Finance is typically used as short term funding in the event that other longer term funding cannot be secured at short notice. This type of financing is suitable for Residential and Commercial properties in England, Scotland and Wales and loans can be arranged from £26,000 +.

Why might you need bridging finance?

  • To raise capital on your new or existing property or both
  • If your property sale has fallen through and you are purchasing another property
  • If your business needs a short term capital injection
  • You need finance quickly to purchase a property at auction
  • Your property is partially refurbished though not yet in a habitable condition and you cannot obtain a mortgage until the refurbishment is complete.
  • Prevention of repossession of residential or commercial property
OPTIONS AVAILABLE WITH BRIDGING FINANCE (please click)
  • Interest Roll up
  • No monthly interest payments are required, instead the lender rolls up the interest and this is added to the balance on redemption of the loan.
  • 100% Bridging Loans
  • Available for genuine discounted purchases, the loan is secured on the property with the discount providing security for the lender. In some cases additional security may be required.
WE CAN ARRANGE BRIDGING FINANCE FOR THE FOLLOWING: (please click)
  • CCJ’s and arrears
  • Discharged Bankrupts
  • IVA’s
  • Self-Employed (no accounts necessary)

Closed Bridging Loans

This may be used when longer term finance has already been arranged but the funds cannot be drawn down ie. In the case of a house sale and purchase when a mortgage offer has been obtained – the seller requires you to exchange contracts on the new purchase prior to the sale of your property and your mortgage offer will not permit the purchase without the sale of your property. In this circumstance finance is required at short notice and provided on the basis that when the existing property is sold it will be used to repay the closed bridging loan. The lender would normally secure the bridging loan on the existing property to be sold and may not require proof of income just confirmation of how and when the loan will be repaid. Closed Bridging is a less risky option than “Open Bridging“.

Open Bridging Loans

This type of bridging finance should be used with caution and considered when all other alternatives have been checked. Open Bridging is used when there is no finance arranged or alternative investment to pay off the bridging finance, the loan would typically be taken for a term between 1 – 12 months and alternative funding will then need to be arranged to pay off the bridging loan. Open Bridging is also a very effective form of Auction Finance or to purchase repossession properties and can be used to buy a property that may bought to refurbish and resell within 1 – 12 months. Open Bridging is a more risky option than “Closed Bridging“.

 

 

Speak to us about your finance requirements. Contact Us