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Bridging Loan to acquire Commercial property quickly

Deal Structure

70% of the 180 Day Value

73% of the purchase price

Interest Rate at 0.99% per month, with interest paid monthly.

2% Arrangement Fee

No exit fee from month 3 onwards

6 months term.

Deal Summary

Our clients run a successful building contractor business and they were given the opportunity to purchase the property they ran their business from. Whilst the purchase had been agreed some time ago, the vendor suffered a bereavement and so the purchase became protracted. However, a strict deadline was then issued, and so the buyers needed to act quickly.

Initially a 14 day completion was requested, and whilst the bridging lender appeared to be able to meet that request, the completion date was relaxed a little, allowing further time to get the bridging loan concluded.

We are currently working on an Exit strategy to this deal, which will be a refinance to a more conventional commercial mortgage, to coincide with the 3 month “anniversary” of the bridging loan, meaning there will be no exit penalties.

John Waddicker

Contact

John Waddicker

Quick Enquiry

Positive Commercial Finance is a trading name of Business Financial Solutions Limited. Registered in England & Wales 06451075. Registered office address Warth Business Centre, Warth Road, Bury BL9 9TB. Authorised and regulated by the Financial Conduct Authority (716012). Full members of the NACBF and FIBA. ICO registration reference Z1196910.