Tips for when applying for bridging finance with a funder or adviser
The adviser or funder will require the following info to assist you further
1 – Your full name or company name if you are using a limited company for your purchase or refinance
2 – A description of the property you wish to purchase or refinance
3 – The current value of the property
4 – Is it leasehold or Freehold
5 – Are you purchasing under market value as this may be of benefit to you as the customer. The funder may allow the borrowing to be based upon the open market value which in turn may save you money towards your purchase
6 – What works if any are you wanting to carry out upon the property
7 – If a purchase, what equity / deposit do you have towards the purchase
8 – How will you exit the bridge finance / pay back the secured loan
9 – All in all, be very open with the funder / adviser as they are there to help you achieve your bridging finance goals to borrow and them to organise your funding