Pivot is a lender that offers high-quality bridging products across the entire short term lending spectrum, including residential, commercial, development and pre-planning finance.
Pivot have been offering short-term non-regulated property loans since 2012, operating under the Pivot brand for the last couple of years. Pivot are part of a wider real estate group that includes an established residential property developer (Fruition Properties), a digital property fund manager (Prop.), a construction company (Area 29), and a block management business (Xenon Properties). What this means is that they understand all aspects of the property lifecycle and can truly relate to our borrowers’ needs.
Thanks to this wide range of expertise, Pivot can offer funding options across the entire lending spectrum, offering short term “bridging” solutions on residential, commercial and mixed use securities. In addition Pivot can leverage the wealth of resources in house to offer a robust development finance product, whether it be heavy refurbishment or ground up home building and can even consider lending on the hope value of a site achieving planning.
Your key contacts at Pivot
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.
Many lenders can agree terms in hours and funds can be in place in days rather than weeks. Average completion times with some lenders can be in the range of just 7-14 days. When you require speed to take advantage of a time-limited opportunity Bridging.com can help you to find the best lender for your unique circumstances.