What separates a bridging loan from a conventional financial product is two very important things.
Bridgingloans.co.uk is a leading UK finance broker & principle bridging loan funder with a unique commitment to transparency and customer service excellence.
The past year has brought about yet another spike in bridging loans interest among British investors looking into buy-to-let opportunities.
Newly formed British challenger bank Aldermore on Wednesday reported that it is enhancing its bridging loan offering.
The enhanced bridging loan offering will see the bank reduce its minimum valuation for light refurbishment to GBP75,000, a reduction from GBP100,000 and in line with Aldermore's residential and buy to let mortgages.
The money will also be used to pay back bridging loans
earlier granted by the BNDES.
Angel Mining PLC (Angel Mining), a mining company currently focused on Greenland, has extended its bridging loan with Cyrus Capital Partners (Cyrus Capital).
The bridging loan has been extended until August 31, 2010.
If the bridging loan
had been granted, there is no doubt whatever that SAIC would have completed their joint venture agreement with MG Rover and Longbridge would still be building cars today.
Fixed rates on residential investment bridging loans
begin at 0.64% with a maximum loan size of GBP3m and facilities at up to 75% loan to value, commercial bridging loans
are available from 1.09% with lending up to GBP5m and a maximum loan to value of 65%.
Bridging loans have less stringent lending criteria to other sources of finance, so having failed to find a method of finance through the more traditional sources some people are turning to bridging loans as an alternative option.
The important thing to remember is that bridging loans are a short term method of finance and should only be taken out if this is what they are going to be used for.