Bridging and Development Finance
Bridging finance is short-term funding (usually with interest ‘rolled up’) which allows a client to raise money quickly for a project or when it’s impossible to demonstrate serviceability of repayments every month.
Due to this, the due diligence required is less than for more conventional forms of Commercial Lending but the pricing is usually (but not always) higher. This type of finance is also ideal for auction property purchases.
Development Finance works similarly but is secured on the development project and is often drawn down in tranches to suit a development schedule. This can be used to build from the ground up or a simple refurbishment project.
Interest rates start from 0.45% per month and commitment terms from just three months.