Flexible solutions for a wide range of non-regulated, short-term lending requirements.
Originally established in 2013 with a focus on providing lending solutions to property professionals in the South West of England, Bath & West will now lend right across England and Wales. They are a privately owned principal lender with a strong, established reputation and a growing team of highly experienced short-term lending industry professionals. The experience within the team allows them to make fast decisions and to offer an impressive level of flexibility, even on the most complex and unusual cases.
Bath & West are equally happy to consider standard short-term bridging loans, development finance, funding for a refurbishment project or indeed for an auction purchase. They have built their business around making the process of bridge lending as fast, smooth, and seamless as possible. They can make immediate decisions over the phone and provide funding, when required, in a matter of days.
The team at Bath & West see bridging loans as an invaluable tool in a property investors armoury. They recognise the value in unmodernised and unmortgageable properties and their products are designed to allow investors to realise full value on both residential and semi-commercial properties prior to sale or refinance. So far as auction purchases are concerned, they will ensure funds are available to meet the tight timescales imposed by an auction purchase. Finally, their extensive experience in the development sector ensures that their products are designed to give developers certainty of cash flow and the peace of mind that comes with this.
Bridging loans can be used for a wide variety of purposes. Perhaps the most common purpose is to allow you to buy a new home or business premises before you have sold your existing property. They can also be used by investors to buy property at auction, landlords to acquire buy-to-lets, developers to acquire and renovate properties and businesses to raise working capital. There are a myriad of different uses and Bridging.com can help to find the best loan for you.
A 1st charge bridge is the principal loan on a property, and it takes precedence over all other charges. A 2nd charge loan meanwhile is secured against a property that already has a loan or mortgage outstanding. 2nd charge loans generally require consent from the 1st charge lender.
Nearly all lenders will charge a valuation fee which covers the cost of surveying your property and determining its value. Most will also charge an arrangement or facility fee to cover the cost of setting up a loan. This is usually around 2% of the loan amount. Finally, prior to completion of your loan, most lenders will also charge a legal fee, usually charged at a set rate, and used to cover their legal fees for completing the loan. Valuation and legal fees are usually charged up front whilst administration and arrangement fees are often built into the terms of the loan.