Hertford Solutions LLP are a non-status principal lender who provide financial solutions exclusively to commercial borrowers, for a variety of applications.
Quality of service is key within a market as crowded and competitive as bridging lending, and lenders need to be able to provide a high-quality product to their clients in order to secure their business. At Hertford Solutions, they focus solely on creating fast and flexible lending product for the commercial sector, centred around a commitment to meeting their customer’s needs. By providing financial solutions for a particular segment of the market, Hertford Solutions can generate a range of products that are appropriate for their clients; their loans are designed specifically around solving the issues that small and medium-sized businesses face.
One of the key differences between Hertford Solutions and their competitors is that Hertford is a principal lender, and focuses on a forward-facing attitude to lending. Many other lenders will look to match borrowers to their ideal criteria; Hertford Solutions operates differently, and can accommodate their customer’s needs by restructuring the terms of their financial products.
The products which Hertford Solutions offer are specifically designed with the needs of SMEs in mind; they provide cashflow finance and bridging loans for expansion, as well as dedicated farm finance. These loans can be invaluable for smaller businesses wanting to expand and the flexibility on offer makes them highly attractive.
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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.
Commercial bridging loans are, as their name implies, bridging loans that are secured against commercial property.
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.
Yes. They can be a great tool for landlords who want to do renovations on their properties to improve rental yields. The value of the properties will also reflect these property improvements and make it easier for the landlord to refinance them onto competitive Buy-to-Let (BTL) mortgages and clear any bridging. Like residential bridging, commercial loans can also be useful when a property chain is broken.
Yes. Absolutely. They can be very useful in both the above instances and to solve a variety of other problems.