Bridge Loan
Short-term bridge loan finance solutions whatever the situation!
Whatever your customers’ needs, we have access to a wide range of bridge loan products from an extensive panel of lenders. Clever should be your first port of call if your customer is looking for bridging finance. Situations where we can help include:
- Securing a property before completing the sale of your existing property
- Broken sale chains - bridging the gap between purchases
- Auction purchases - quick completion timescales
- Renovation - a traditional mortgage may not be available until the works are complete
- Below market value - enabling you to possibly take advantage of the open market value of the property
- Un-mortgageable properties, for example if there’s no kitchen or bathroom
- Commercial property purchase
- Refurbishment projects to sell or let
- Cross Charge and subject property
- Change of use - if changing the purpose of a building
- Buy-to-let - purchase-to-let
Can people with bad credit and take out a bridge loan?
The simple answer is yes! We help people do just that. One customer was able to:
Secure a bridging loan of almost £600,000 over a 12-month term to improve his financial situation
Receive the required funding on the same day
Sell his property to buy a smaller home and pay back his arrears to the original lender
Customer story
This customer’s remortgage case was passed to us after his existing lender refused to grant him a second charge. This was due to existing adverse in the form of missed mortgage payments. He was also struggling for a regular remortgage due to the loan amount, his age and existing issues within his business.
We took over this case and worked closely with the customer to match him to another lender which was happy to provide the required funding and the loan was paid to the him on the same day.
This meant the customer could gain control of his financial situation, using the bridging loan to clear his existing arrears with the original lender. The customer was then able to sell his property and downsize, making his finances more manageable going forward.
When is best for a bridge loan
When your client needs finance to purchase, they may need it quickly, the answer lies in bridging finance. Whether a regulated transaction or unregulated, bridging finance could be invaluable to your client, helping them achieve opportunities to secure a home or fulfil investment opportunities.
- Light, medium and/or heavy refurbishment, where investors renovating a property need to make it fit for purpose or mortgageable with a mainstream lender, or even to develop property to increase its potential value of yield, think HMO or similar
- Auction purchase, when a property is purchased at auction, an investor will need a quick solution so that they do not miss the opportunity and will need to complete within 28 days.
- When the sale and subsequent purchase are not continuous and may fall through. Known as chain breaking, your client may purchase the next property prior to the completion of the sale of the first property
How can we help with a bridge loan
We are experts in bridging finance. Whether it’s complex development transaction or a simple auction purchase, we have the answers you and your client needs. You don’t need to be the expert because we can be the expert for you
Speak to us today on 0800 316 2224 or complete our form
6 Great Reasons to Choose Clever Lending for a bridge loan
In-house regulated bridging advice
We have a dedicated team of qualified specialists who are ready to discuss your regulated bridging advice enquiries
Market-leading rates
Competitive rates on bridging loans with 100% LTV available with added security
Hundreds of products
First, second and third charge bridging loans available from £25,000 with terms from 1 month to 24 months
Staged release on development
Borrowers can secure renovation funds for various stages of their property renovations
No exit or legal fees
We can offer bridging loans with no exit fees for flexibility of the investment plan
Manage all enquiries online
Manage all bridging enquiries at any time from any device using Clever+
Why use a specialist distributer?
Gone are the days of a ‘computer says no’ process when it comes to lending. You will have customers in a wide range of circumstances who need finance and the best solution may not be immediately obvious.
That’s where we step in. We can help by:
- Reviewing cases thoroughly and sourcing the most appropriate lender and product for each customer – giving you more time to deal with the more straightforward applications
- Turning your applications around quicker. From completing the fact-find, to collating documents, we can free up your time so you can concentrate on helping more customers
- Providing recommendations to your customers and being responsible for any advice we give
- Improving your customer relationships by ensuring they receive appropriate advice in specialist areas from product experts. This will ensure we offer solutions that best meet their needs
- Giving you access to products from a large panel of lenders – some of which you may not be able to access elsewhere
About Clever Lending
We will do everything we can to ensure your cases complete and provide your customers with the most suitable products for their individual circumstances. We provide:
- Expert product knowledge on the latest products with some of the lowest rates on the market
- A flexible service working either with you on a case or dealing with customers directly – whichever you prefer
- Competitive commission rates
- A fully compliant service with clear audit trails helping you with any regulatory obligations
Register with us
Register as an introducer to start submitting business with us.
