Drawdown often takes place within 7 days of the enquiry being received. An Agreement in Principle can be achieved in a much quicker time.
A bridging loan is not designed to be a long term funding solution and is best utilised to provide immediate liquidity for property transactions that would otherwise fall through if not for the availability of a bridging solution.
The loan can be either “closed” (ie where contracts have been exchanged and the period of borrowing is known at the outset) or “open-ended” (ie where the date of the repayment of the loan has not been determined). In the latter case interest is sometimes paid as it accrues or in other cases “rolled over” and paid at the end from the sale proceeds.
It can also be used to provide a business with urgent cash flow until the property can either be sold or re-financed.
We can offer:-
- Fast bridging loans from £10,000 to £20m+
- 1-24 month terms
- Market Leading rates
- 100% LTV available (additional security required, otherwise the maximum LTV is usually up to 75%)
- No accounts or proof of income needed.
- Completion in 7 working days
WF Financial Solutions have relationships with all of the major high street banks. However, in some circumstances clients may be more suited to some of the niche lenders in the market. These lenders will offer facilities in situations where the banks will not.