Can you obtain 100% bridge funding secured upon a commercial asset, yes.
An office block that has planning for residential apartments and which can be purchased for 1.5m with an open market value of 2m.
Some bridge funders will accept the higher open market value for lending in this scenario and will offer a loan of circa 60% of the open market value equalling a bridge loan to acquire the asset of 1.2million.
A second charge bridge company can offer the balance in some cases especially when the customer can service the debt/s secured meaning 100% of funding towards the purchase.
Each case will be graded on its merits, it’s make up and composition so, always remember, the funders look at the proposal and the customers background to allow them peace of mind that their funds are well spent on your project.
When calling ask for Mark at www.bridgingfinancenow.com and www.bridgingfinancecapital.com