Similar to residential bridging finance, commercial bridging comes into play when you have a finance gap that needs to be filled quickly.
The requirements for commercial bridging finance require that more than 40% of the property is used for commercial purposes.
For commercial units bought with commercial bridging arrangements, the exit strategy tends to involve refurbishing the unit and then either selling it or refinancing with a commercial mortgage.
Commercial bridging can be used when you buy a new business, commercial property or a property that is part commercial and part residential.
Where commercial bridging is particularly useful is when the property in question is a brownfield site that does not have planning approval. Alternatively, it may be run-down commercial premises where a conventional mortgage is hard to come by. Or you may turn to a bridging arrangement when you need funding for a new small business or start-up.
Like with residential bridging finance, commercial bridging finance is also useful when a property chain needs to be broken, and when you bid at a property auction. Commercial bridging finance can be used in a variety of business situations whether it is to provide your business with some working capital, to finance your tax liabilities or to cover short term cash-flow issues.
The benefits of commercial bridging finance include:
We can take a first or second charge
Completion anywhere between three days and three weeks
We can use property value instead of the purchase price
No early repayment charges
Terms between 1 month and 36 months
Have Any Questions Regarding Our Commercial Premises?
Call us or you can apply online we aim to provide you with an approval within 1 business day.
We can do a maximum Loan-to-Value (LTV) of 75%.
We can complete a bridge as little as 3 business days depending upon the complexity of the case.