Bridging & Short Term Finance

Funding Solutions covers the complete spectrum of bridging and development finance. Our extensive experience in this sector enables us to quickly match our clients' requirements to the most suitable lender and at the most competitive rates.

We aim to provide an in principle decision within four hours and our short processing times mean that completion can often be within seven days.

Where there is sufficient equity within suitable security and a provable exit route for the lender - then we can help!!!

How can bridging help?

• "Buying out" a bankruptcy , and paving the way for a sub-prime remortgage. The benefits typically are that a client retains their home, has access to lower costs mortgage funds with consolidated expensive unsecured / secured loans.

• Trustees of a deceased estate may find themselves unable to obtain probate because of unpaid taxes. Bridging finance can bridge the gap and be redeemed from the sale of the property.

• Repossessions ; A bridging loan can often be used to restore a client to their property and pave the way for a remortgage. Funding Solutions' speed, coupled with a generally non-status approach, means that finance can usually be arranged in adequate time, even if the client has already received the judgement.

• Property speculators / Developers may wish to acquire an "unmortgageable" property, due to the property being defective or sub-standard. Funding Solutions have access to products where the purchaser negotiates access to the property between Exchange of Contracts and Legal completion, (delayed long enough for the necessary works to be completed), which will provide a loan at legal completion based on the finished value not the purchase price. All the buyer then needs is enough money to pay the Exchange Deposit and cover the building works coupled with an end value that supports the required loan.

• Standard bridging scenarios:
  -  The chain has broken down but the client still wishes to proceed with the purchase of their chosen property.
  -  The client needs to complete the purchase of their property before their existing property has been sold.
  -  The clients lender cannot provide the mortgage offer within the necessary timescale.
  -  The client cannot prove income to cover the required funding.

For swift processing of an application the lender will require the following:

• An up to date valuation.
• If the loan is to be a second charge, an up to date Lender's questionnaire is to be supplied.
• Buildings insurance.
• Proof of identity - valid passport or driving licence.
• Proof of residence - utility bill, bank statement, dated within the last three months.
• Acceptable proof of income.
  - Employed - three months payslips.
  - Self-employed or limited companies - self certification.
  - Pensioners - letter confirming breakdown of income.

Bridging loan guidelines:

Acceptable security	Residential or commercial property. Freehold or long leasehold. First or second charge.
Minimum charging period	3 months.
Term of loan	Up to 6 months - renewable at lenders discretion.
Minimum loan	£30,000.
Maximum loan to value	First charge up to 75% (In some instances 80%). Second charge up to 65%.
Monthly loan charges	From 1% per month *subject to underwriting & assessed risk.
Arrangement fee	1% of the advance.

To commence your application either call us on freephone 0800-5285227 or
alternatively submit your enquiry using our enquiry form, providing as much information as possible about your transaction.

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE

Site Terms of Business & Data Protection Statement

Funding Solutions is a trading name of T & A Labuschagne Partnership and has its registered office at PO Box 418, 14A Bar Street, Scarborough , North Yorkshire, YO11 9AW.
T & A Labuschagne Partnership is authorised and regulated by the Financial Services Authority (FSA, registration number 302248). The FSA does not regulate personal loans or non-regulated mortgage contracts. Some Buy to Let mortgages are regulated by the Consumer Credit Act (CCA).
Calls to Funding Solutions may be recorded for training and monitoring purposes. Loans subject to status, type and value of property. Insurance may be required. Minimum age 18. This site is only directed at persons within the United Kingdom.