A diverse funding base of long-term institutional investors, funds under management and their own balance sheet ensures that Greenfield Mortgages have the autonomy to make all lending decisions in house.
As a supplier of bridging finance Greenfield Mortgages has been successfully lending for over a decade. During this time, they have built a strong and enduring reputation with their professional introducer network by applying simple but hugely effective business principles. By committing on their decisions and delivering on their promises the Greenfield team has gained a strong reputation for openness and honesty. In short, introducers trust them to deliver results.
Chairman Steve Smith turned his attention to the property market after founding, growing and ultimately selling his ground-breaking retail chain of “Poundland” stores in 2002. Having built a business with over 80 stores and turnover of nearly £200M per annum it was perhaps little surprise that, following the sale, Smith quickly established a strong reputation in the property world. Ultimately this passion for the property sector saw him launch Greenfield Mortgages with a team of industry friends and colleagues in 2009.
Today they operate throughout England and Wales lending both FCA regulated and unregulated loans against a mixture of residential and commercial property. With immediate access to decision makers, introducers receive an agreement in principle (AIP) on acceptable cases within an hour of an enquiry being submitted. Rejections are equally speedy and always fully explained enabling the introducer to better understand and potentially place the enquiry elsewhere. From enquiry to completion the Greenfield team regularly turn things around in less than 7 days. Not only do Greenfield Mortgages promise speed of turnaround – they deliver on it!
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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.
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.
Loans generally range from £10,000 to £50M with smaller or larger amounts provided on an exceptional basis. The value and equity within the property or properties you are securing against will determine how much you can borrow. The maximum loan to value (LTV) currently offered by most lenders ranges between 65-80%
In general most bridging loans will fall between 0.5% and 1.5% per month although occasionally they can be either slightly cheaper or slightly more expensive. Each loan is priced on risk with particular attention paid to the property, its location and the strength of your exit strategy.
Bridging.com can help you secure a bridging loan tailored to your own unique circumstances in a matter of days. We can guide you through the entire process from initial enquiry to funds being released in the shortest possible timeframe.