2020 has taught us a lot, not only can you or your clients face the impact of factors like the weather on a house project, there are other situations that may result in needing refinance.
When can a re-bridge help?
· The existing loan is coming to an end but it's still required, due to a refurbishment or build not being finished.
· To repay an existing loan and raise further funds.
· There is a better deal available for them to move to.
SoMo are specialists in Bridging cases like this, in fact we've seen a 20% increase in refinancing enquiries in the first quarter of 2021.
· 68% LTV on second charge Bridging loans across the UK.
· 70% LTV on first charge Bridging loans across the UK.
· An experienced team of BDMs and Underwriters.
· A simple process - no application forms and paperless until completion.
· Loans for various types of people, including limited companies, ex-pats, self-employed, people with credit blips and more.
· Open Market Value lending (for first and second charge purposes), not against the 180 or 90 day rule.
Stay up to date with all the latest SoMo updates, Investor news and much more.
Welcome to the SoMo website, the new home for the BridgeCrowd
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