Bridging Loans
Why use Prospero Finance to find your Bridging Loan?
Prospero have a huge level of experience arranging bridging loans for both commercial and residential properties. Commercial and residential bridging loans are mainly used to secure property purchases where short term borrowing is required.
No upfront costs
We’ll never ask you for any costs upfront in order to get you a decision in principle. Depending upon the project we may need to charge a broker fee on completion, although we endeavour not to.
Light, medium and heavy refurbishment
We can source bridging loans for refurbishment projects.
Auction property finance
We accept both business trading and investment applications.
Auction condition completions
We provide bridging loans for auction purchases.
1 to 24 month terms
We offer flexible terms on bridgine loans.
No early settlement fees
If you settle your bridging loan early, there will be no additional fees.
Commercial and residential buildings
We specialise in offering bridging loans for both comercial companies and individuals.
Fast turnaround
In most circumstances we can offer a same day decision in principle.
All loan sizes considered
There is no limit to the size of loan you can apply for using Prospero Finance.
100% advances with additional security
We offer bridging loans up to 100% of the property price.
Bridging loans explained
A bridging loan is a form of short term funding secured again property, either residential or commercial. The traditional bridging was used to complete when a property purchase chain had broker down, however more recently the variety of purposes where bridging loans are used have increased over the years as more lending providers have entered the market.
The specialist bridging finance team at Prospero Finance are able to arrange some of the best value, bespoke bridging facilities in the market, in addition are able to arrange the exit on the bridging loan where required, often on bespoke terms not widely offered throughout the market, giving our customers the peace of mind of having an exit option set up prior to completion.
Bridging loans can be arranged under the following circumstances and terms, not limited to:
- Regulated and unregulated loans
- Chain breaks
- Limited company applications
- Light and heavy refurbishment options
- Stage payment releases
- Auction purchases
- Non-mortgageable properties
- Properties requiring refurbishment (light, medium or heavy)
- Full development bridging
- 100% loans available
- Below market purchase
We are able to arrange agreement in principles for our customers within 1 working hour of receiving your enquiry. With no upfront fees, application fees or commitment and you are under no obligation to proceed. Key features of bridging loans include:
- No upfront fees
- Up to 80% available
- Market leading rates
- No exit fees
- 24 month terms available
- Interest can be retained, rolled up or serviced
- Regulated (for personal home) or unregulated loans available
- Residential and commercial bridging
- Whole of market fully advised service available