BM Samuels specialise in short term bridging loans for the property development sector, offering FCA-accredited funding for commercial and residential properties.
There are very few financial organisations in the UK that can boast a long track record of success, but BM Samuels is one of them. Having been present at the very beginning of the bridging finance industry, the lender has grown and emerged as one of the few long-running bridging lenders in the UK today. This has been achieved by offering high quality core value services, focusing mainly on the provision of bridging finance for short-term property development. By identifying their specialist market, BM Samuels has been able to refine their services to an exceptional level.
The forms of finance that BM Samuels offer can be used for many different purposes, and they provide loans for property development, personal residential bridging, debt refinance, auction purchases and commercial capital-raising. This demonstrates the flexibility of terms that BM Samuels offers, and their ability to provide excellent financial products to meet a wide variety of requirements; their website is full of case studies where BM Samuels has turned around finance in a short period of time to save deals at the eleventh hour. Though there are many upstart lenders in the market today, the expertise and experience of BM Samuels makes them tough to beat.
Your key contacts at BM Samuels
A bridging loan is a short-term loan secured against property. It allows you or your business to “bridge a gap” until either longer-term finance can be arranged, or the underlying security or other assets can be sold.
There are many ways in which businesses can use a commercial bridging loan. Common uses are to cover short-term cashflow issues or to finance tax liabilities. More positively they can be used as working capital and by new businesses as a cashflow injection to acquire additional stock or even to acquire new equipment or premises for the business. Beyond these examples there are a huge variety of ways in which commercial bridging loans can be used.
To qualify for a commercial bridging loan the overall use of the property being used as collateral will need to be at least 40% commercial. For example, if the property is a rental unit with a flat above the commercial part of the property would have to represent more than 40% of the total property. Furthermore, most lenders would also insist on a separate entrance to the flat.
Development finance can be used for new build projects, commercial and residential developments, renovations, conversions or for the redevelopment of existing properties. Loans can be used for a vast range of different property types.
Development finance can be offered against both residential and commercial property. Development loans are designed to help developers fund refurbishments, renovations, or conversions of existing property or to build brand new properties on a ground-up basis.
By assessing how extensive the project is, how long it is likely to take and how much it is likely to cost in a worst and indeed a best-case scenario. Refurbishment bridging loans will cover a majority of light and heavy refurbishment projects but for more extensive development projects including ground-up builds of one or indeed multiple units, development finance can potentially cover both the land purchase and build costs
A development scheme is usually classed as finished when the developer has received the Practical Completion Certificates.