Bridging and Short Term Finance Oxford
Bridging and Short Term Finance Oxford. Are you looking for bridging or short term finance?
Bridging finance can be used for a variety of reasons. In short, it ‘bridges the gap’ and offers you short-term financing whilst you wait for a ‘traditional mortgage’ to be approved.
The typical reasons for obtaining bridging finance are to:
- Fund a new house purchase whilst you wait for your existing property to sell
- Purchasing a property at auction
- Flipping properties (purchasing a property, renovate it, sell it)
- To fund a commercial purchase / commercial development
- To fund a restoration project
Whatever you need a bridging loan for, we will find the right finance for you. Due to the short-term nature of bridging finance it can be complicated and significantly more expensive. Plus, with higher rates of interest than a normal loan.
Although expensive, they can be invaluable in facilitating a property purchase. Especially when banks are slow, previous premises are not sold or when buying at auction.
Banks and building societies have reduced lending since the financial crisis. This means there has been an increase of alternative bridging lenders on the market.
As it is a demand-led market rates can be high. Also, large legal and administration fees can also be added. We are able to use our experience, expertise and contacts to find you the best bridging loans for your circumstances and ensure you understand the fees, details and implications of the loan.
We predominantly provide bridging loans for landlords, property developers and asset-rich borrowers for investment, buy-to-let and development. but we can help with bridging loans for private individuals if the banks are taking too long to process applications for larger home loans, and you risk losing the purchase.
The IMS Property Group is an official authorised member of the National Association of Commercial Finance Brokers (NACFB). This is a trade body for over 1600 commercial finance brokers and lenders. They are spread across the UK.
As an NACFB member, we need to have Consumer Credit Permission. Also, we must have Professional Indemnity Insurance and a Data Protection Licence. Lastly, we are required to have a strong track record with nationally recognised lenders.