Short term finance has grown in popularity and can be used for varying purposes. Including...
With the rise of buy-to-let mortgages, small business, the self-employed, who don’t necessarily tick all boxes the high street ask of them, there was a need for more flexibility from lenders. Short term finance particularly has grown in popularity and can be used for varying purposes.
Take the example below:
A 68% Second Charge Bridging loan was locked in for James.
He was looking to expand his property portfolio and needed to raise funds on his home.
Our solution:
Our team helped by funding a £800k Bridging loan. The loan was secured by way of a second charge at a market leading 68% of the open market value, funded in 16 days.
We lend:
- Against the Open Market Value, for first and second charge purposes.
- On all sorts of non-standard property types.
- To various types of people, including limited companies, ex-pats, self-employed, people with blips in their credit and many more.
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How a Bridging Loan Helped One Buy to Let Customer
Claire was looking to add a Buy to Let to her property portfolio. She was struggling to secure funding that would allow her to complete within a tight deadline and against the open market value.
SoMo Offers 68% LTV On Second Charge Bridging Loans
Short term finance has grown in popularity and can be used for varying purposes. Including...
A Client Needed A Cash Injection For Their Catering Business
We recently helped a client who needed a second charge bridging loan secured against their residential property. A 68% LTV second charge bridging loan was the order of the day.
What Is Bridging Commonly Used For?
Bridging loans have risen in popularity since the financial crash 10 years ago, with banks tightening criteria …
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