Bridging loan for Limited Company

[Sarah_W]

I need a bridging loan for a Limited company. I can secure it against an unencumbered property which the company owns. I only require it for 50% of the property value and being a period conversion long leasehold flat in London it's a fairly safe asset as flats go.

Looking on the web I'm seeing rates of 1 to 1.5% per month with fees of about £1500. Has anyone used or knows of a lender with good fees? The charges I'm finding are massive against a fairly low risk loan

[uber]

I know a lot of online companies refer you to these guys then charge you a 5 grand fee : http://www.bridgingloansltd.co.uk/

I dont think they charge you if you go direct

[Dick Dastardly]

I know the guys behind this and they always give out sound advice: http://www.faster-bridging-finance.co.uk/

Would be worth enquiring to see what rates they can obtain.

[wattsm666]

Won't your bank give you a loan/overdraft secured against the property?

[Sideways Rich]

I have a friend who provides this kind of investment for property developers, pm me if interested.
Rich

[Manks]

Sarah_W said:

I need a bridging loan for a Limited company. I can secure it against an unencumbered property which the company owns. I only require it for 50% of the property value and being a period conversion long leasehold flat in London it's a fairly safe asset as flats go.

Looking on the web I'm seeing rates of 1 to 1.5% per month with fees of about £1500. Has anyone used or knows of a lender with good fees? The charges I'm finding are massive against a fairly low risk loan

How much do you want and for how long? What is the vehicle for repaying the loan and is it in place?

Manks

[Sarah_W]

Manks said:

Sarah_W said:

I need a bridging loan for a Limited company. I can secure it against an unencumbered property which the company owns. I only require it for 50% of the property value and being a period conversion long leasehold flat in London it's a fairly safe asset as flats go.

Looking on the web I'm seeing rates of 1 to 1.5% per month with fees of about £1500. Has anyone used or knows of a lender with good fees? The charges I'm finding are massive against a fairly low risk loan

How much do you want and for how long? What is the vehicle for repaying the loan and is it in place?

Manks

Hi Manks,

£80,000 on a property worth £160,000 (and currently unencumbered)
I'll be repaying the loan when the property is sold. It's now renovated and shortly going up for sale

[Manks]

Sarah_W said:

Manks said:

Sarah_W said:

I need a bridging loan for a Limited company. I can secure it against an unencumbered property which the company owns. I only require it for 50% of the property value and being a period conversion long leasehold flat in London it's a fairly safe asset as flats go.

Looking on the web I'm seeing rates of 1 to 1.5% per month with fees of about £1500. Has anyone used or knows of a lender with good fees? The charges I'm finding are massive against a fairly low risk loan

How much do you want and for how long? What is the vehicle for repaying the loan and is it in place?

Manks

Hi Manks,

£80,000 on a property worth £160,000 (and currently unencumbered)
I'll be repaying the loan when the property is sold. It's now renovated and shortly going up for sale

You'll be looking at nearer the higher of your two figures then I suspect. If you would like to email me I can put you in touch with a couple of people who may be able to help.

Manks

[Sideways Rich]

Hi Sarah,

I've sent you a PM with some details, I have a friend who is in a position to help if interested.

Regards,
Rich