A re-bridging loan is used when you need to refinance an existing loan.
Usually, re-bridging loans are used to seek a better interest rate, or if an existing bridging loan is coming to an end or has been unsuccessful.
For over a decade, the property development specialists here at Hunter Finance have been helping both residential and commercial landlords and investors climb the property ladder.
Call us today to check your eligibility for a property development loan: 01825 749 721.
When thinking about applying for a re-bridging loan, here are some factors you should be considering:
Your credit rating and history and the requested LTV will also be taken into consideration during the application process for a re-bridging loan.
To make sure that your bridging loan will not fail again, you should create a detailed exit plan for your lender.
An in-depth and well-thought exit strategy is an integral part of the application process for a re-bridging loan and is often what determines the success of your proposal.
If you are planning to refinance to a short-term loan such as a mortgage, then you will need to provide the evidence that this will be a viable and possible option.
If the sale of your property is planned then a quantity surveyor will provide an estimated marketing period for the property.
Your financial director will need to know this so they can ensure that the sale can go through before the term of the new loan comes to an end.
There are a number of funding solutions when it comes to property.
Whether you want to fund an auction purchase, or need the money for a new build or renovation, your financial supervisor will be able to suggest the best funding options for you.
Other options include:
Call us today to discuss your property development finance options: 01825 749 721.
If we can help we will say so, if we can’t we will be able to point you in the right direction or suggest alternative financial vehicles.