For some borrowers, the duration and terms of a long term financial solution may be unfeasible and overwhelming given their current situation. When individuals are looking for short term, flexible funding, bridging finance may be the answer.
This type of financing can be arranged quickly and does not carry the demanding requirements that are associated with more traditional financing forms. Bridging finance is essentially a very short term mortgage that can help bridge financial gaps.
Bridging Finance for Quick Property Purchase
In recent years, investors and developers have been utilising bridging finance to help quickly complete transactions. Since bridging loans can be arranged and dispersed in a short amount of time, having this type of financial support allows clients to be considered “cash buyers,” offering them more opportunities and better deals than traditional buyers.
Jubilee can arrange financing in as short of a period as seven business days, meaning borrowers can take advantage of quick sales, repossessions and distressed sales in addition to assets or equipment from vendors. The terms for this type of financing can vary from one day up to six months, allowing clients more flexibility with purchases and repayments.
We are well versed in arranging financing for properties that need refurbishment or repair before they can be refinanced. Lenders who specialised in long term, traditional financing often utilise 100 percent retention for mortgages on properties that require extensive renovations including updating bathrooms, kitchens and other important repairs.
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Many professional developers complete a number of these refurbishments a year to build their portfolio – Jubilee can assist with any and all of these transactions. Additionally, the quick disbursement of these funds allows borrowers a unique opportunity to secure better deals and deeper discounts when purchasing and renovating properties.
For Auction Purchases
The key to buying property at auction is having the confidence that funding for the purchase is available when needed. We assist clients in these situations by providing pre-arranged Decisions in Principle both prior to and during an auction.
Traditionally, a percentage of the purchase must be paid the day of the auction and the remaining balance within four weeks of closing. Jubilee can assist auction-goers in organizing these transactions, giving them more time to find long term financing to help fund their renovation or conversion projects down the line.
For Raising Capital
When the property security for a loan is available, Jubilee is more able to arrange financing quickly even while the property is being refinanced or sold. This type of funding is useful when handling cash flow issues, tax payments, VAT or when assistance is needed for funding other business ventures.
Jubilee is able to handle multiple transactions if other funding is immediately moved into probate and can occur while a property is being retailed in the traditional manner. The speed witch which this financing is completed helps clients to draw the best possible deals, which makes them more easily recognised by professional advisors.
For Chain Breaking
When a borrower is having a hard time selling his or her current property but wishes to purchase and move to a new property as soon as possible, Jubilee can help. Short term bridging loans can help borrowers to bridge the gap between selling their current property and purchasing a new one.
Using this method, clients are given a longer timeline to move their residential mortgage from one property to another. Once the older property is sold, the bridging loan can be repaid through the funds granted in the sale. This financing can also be used to release funds that are tied up in equity while refinancing or selling refurbished properties, leaving clients more able to move on to their next project.
Call Us Today: 0292 108 0711
Jubilee specialises in providing clients with quick, efficient, short term financing to help easily fund their projects. When long term financing is not an option, it may be time to consider bridging finance to meet your financial needs. Loans arranged through us are generally available within seven working days, which allows clients to secure better deals from sellers.
Whether financing is needed for an auction purchase, mortgage transfer or renovation project, Jubilee is available to meet our client’s needs.