Bridging Finance
What is Bridging?
Bridging finance is a short term solution that can provide fast access to funding and which can be used for a number of different circumstances.
Bridging finance can often be much quicker to arrange than a normal mortgage. However, bridging finance should not be considered a replacement for more traditional mortgage lending which is normally more cost-efficient.
Bridging finance can be a complicated process and each case is written on a bespoke basis according to the requirements of each individual transaction.
Refurbishment Loans
Chain Break
Auction Finance
Development Finance
Refurbishment Loans
Refurbishment loans can be used for almost any level of improvements you wish to make to your properties, from putting in a new kitchen to adding a full extension or even converting the property entirely.
The type of refurbishment loan and product recommended will depend very much on the individual project. Considerations, such as nature of works, the experience of similar projects, cost of works, planning requirements, gross development value and exit strategy all need to be taken into account.
With some refurbishment loans, the loan can be converted to a term Buy to Let loan, using the same underwriter, valuer and lender.
How can impact help you
We can advise on all aspects of - interest rates, rental calculations, repayment types, terms and conditions, and legal considerations such as stamp duty. We also have access to exclusive products to help you get on the first rung of the Buy to Let ladder, or if this your first purchase, the Property ladder.
Chain Break
Being in a financial situation where everything hangs on a thread is stressful, even worse is not knowing when everything will be fixed.
Fortunately, impact can help stop the chain from breaking!
With a bridging loan, you can borrow the money to purchase your new home while the old one is still awaiting to be sold, then when you have sold your property you just pay the money back (subject to lender conditions).
Funds can potentially be available in as little as 4 working days!
How can impact help you
impact has access to HMO mortgages from the whole of the market, and are Key Broker Partners with Specialist HMO lenders, providing direct access to underwriters on complex cases, where a flexible approach is required. From small student house shares, through to large setups, HMOs and multi-unit freehold blocks - our specialist advisers can assist.
Auction Finance
Being in a financial situation where everything hangs on a thread is stressful, even worse is not knowing when everything will be fixed.
Fortunately, impact can help stop the chain from breaking!
With a bridging loan, you can borrow the money to purchase your new home while the old one is still waiting to be sold, the best part of this is when you have sold your property you just pay the money back (subject to lender conditions).
How can impact help you
Bridging finance can often be much quicker to arrange than a normal residential mortgage. However, Bridging finance should not be considered a replacement for more traditional mortgage lending which is normally more cost-efficient. Bridging finance can be a complicated process and each case is written on a bespoke basis according to the requirements of each individual transaction.
Development Finance
Development finance is used by property developers to fund a wide variety of building projects.
These include building brand new single residential properties, large housing estates, industrial units, offices, apartment blocks, factories and hotels. Development finance can also be used for new builds, property restoration, expansion, or conversion projects.
Also ideal for small building companies and developers purchasing, converting or developing a property to rent or resale.
Looking to Finance a Development Project?
Development finance is used by property developers to fund a wide variety of building projects.
These include building brand new single residential properties, large housing estates, industrial units, offices, apartment blocks, factories, and hotels. Development finance can also be used for new builds, property restoration, expansion, or conversion projects.
Also ideal for small building companies and developers purchasing, converting or developing a property to rent or resale
How can impact help you
Bridging finance can often be much quicker to arrange than a normal residential mortgage. However, Bridging finance should not be considered a replacement for more traditional mortgage lending which is normally more cost-efficient. Bridging finance can be a complicated process and each case is written on a bespoke basis according to the requirements of each individual transaction.