What is a Commercial Bridging Loan
1 – You could say a commercial loan is any asset put forward as security which is not classed as a pure residential property.
2 – Types of commercial assets – hotels, guest houses, pubs, warehouses, offices, retail units, industrial facilities, leisure, healthcare.
3 – The bridge loans on these assets would allow you to borrow between 65% and 70% of purchase price / valuation
4 – An example would be a pub that has rooms above that are let out and form an additional income that would allow a purchaser to use the business income to service the bridge loan until the customer refinances away onto a longer commercial loan.
5 – Rates would be in the region of 0.89% per month as a gauge.
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