Offering affordable short term bridging loans and more to clients across the UK
Based near Bournemouth in Dorset, Genie Lending offer a wide range of bridging finance solutions, including loans for property purchases, auctions, capital raising, or cashflow at short notice. Short term finance is, put simply, exactly that, a source of secured, short-term finance that can be arranged very quick. It is often used by a company or individual buying property at auction, buying a property for renovation and a quick resale / refinance or any purpose where short-term cash flow assistance is required.
The keys to successful short term finance are:
- Equity in the property is offered as security to any lender.
- You can be employed, self-employed or even not be working and we can assist you in raising bridging finance.
- Interest is quoted and charged based on a monthly rates, often deducted for the anticipated term of the short term finance.
- You can take a loan from 1 to 12 months though this can be extended if the project requires it.
- We can do a 1st or 2nd charge finance on your property.
- At the end of the loan we can help you convert it to a commercial mortgage if appropriate.
- We can arrange loans for private individuals or limited companies.
- We arrange short term finance and bridging loans in England, Wales, Scotland and Northern Ireland and loans are available for any legal purpose.
Regardless of your circumstances, earnings or credit history we can arrange Bridging Loans for you if you have the correct security.
The main types of security that are eligible for the loans include:
- buy to let investment property
- commercial investment property
- commercial property such as shops, offices etc
- land with planning permission
We work with all the major lenders in the market, providing short term and bridging finance offering loans from as low as £5,000 up to as much as £20m.
We also have access to several private lenders who can be particularly flexible in this finance area. Our team of specialist consultants are tasked to deliver the best rate and deal possible for your individual circumstances. Genie Lending’s Business Finance Managers will take you through every step of the commercial mortgage process.
Second Charge Bridging Loans
If you already have a mortgage on your property but need further funds in the short term for property improvement, expansion or an unrelated business project then a Second Charge Bridging Loan may be available to you depending on much borrowing you already have in the property.
Here are some key facts:
- Like all Bridging Loans they are intended for short term finance of between 1 and 12 months. For anything longer you should look at a more structured term loan.
- As it’s a Second Charge Bridging Loan, the rates will be slightly higher than if it were a First Charge Bridging Loan but rest assured that our Business Finance Managers will work with our lending partners to get you the best rates.
- Loans are available from £25,000 to £10 million.
- Second Charge Bridging Loans are available on Residential or Commercial properties in England, Scotland and Wales.
At the end of the Bridging Loan period we can also help you convert it into a mortgage or commercial mortgage. If you are based in the UK and would like to learn more about the bridging finance options available from Genie Lending get in touch
with us today.