Commercial Bridge loans are often used for securing commercial property purchases in order to close quickly on the deal. This allows you to secure the property and thus remove the risk of losing out, whilst awaiting the normal procedures that occur when trying to secure long-term finance.
As banks and building societies have recently taking longer to process applications for larger home loans or business applications, Commercial Bridge loans have become the ideal way to get a project moving or secured over a short period.
A Commercial Bridge Loans are similar to and overlaps with the definition of a hard money. Both are non-standard loans and obtained for a short-term, or due unusual circumstances.
The difference is that hard money refers to the lending source, usually an individual, investment pool, or even a private company which is not a bank in the business of making high risk loans. Whereas a bridge loans are a short term loans which are taken to "bridge the gap" between securing longer-term mortgages or loans.
Commercial Bridge loans on a property are typically paid back under the following circumstances;
These Commercial Bridge loans can also be used to help people who are under pressure to repay banks, business loans and also correct insolvency positions via releasing equity in their property.
Commercial Bridging Loans can either be unsecured, meaning the lender has no claim to your property if you are unable to keep up with or default on your repayments, or secured, meaning the Commercial Bridge loans is secured against your home or another asset.
As Bridge Direct are lenders and not brokers, bad credit or adverse circumstance may be accepted for a Commercial Bridging Loans in London, Manchester, Hertford, Middlesex and throughout the United Kingdom.
Serving Commercial Bridging Loans in London, Manchester, Hertford, Middlesex and throughout the United Kingdom, Bridge Direct have extensive contacts and deal with companies that have provided solid returns and legal safeguards for investors for many years.
They are efficient in their process and handle all Commercial and Residential Mortgage Bridge Loans expertly and securely. Bridge Direct will make sure you receive your payments electronically in a timely manner, and reorder new Commercial Mortgage Bridge Loans when your existing loan is paid off so your steady stream of income remains uninterrupted.
Offering Short Term Bridging Loans in Manchester, Bridge Direct will have a solution for you. As Bridge Direct are direct lenders and not brokers, you will receive an instant decision.
Bridge Direct are a small, private company which formed over 5 years ago, currently Bridge Direct have a large lending fund well in excess of £12 million, and with over 30 years of lending experience in both mortgage and financial services industry.
We formed the company with the aim to cater for those being denied access to mainstream lending due to prohibitive bank criteria. All Bridge Directs funds are made up entirely of private investors' money with no bank input, this allows us to apply our own criteria which means will consider any reasonable proposal, including bad credit. We understand the importance of giving people a financial solution they can rely on and trust.
We offer Short Term Bridging Loans in London, Hertford, Middlesex and throughout the United Kingdom, no matter your situation Bridge Direct will have a solution for you. Additionally, Bridge Direct can cater for any Short Term Bridging Loans in Manchester and will give an instant decision to your enquiry.