Checklists
Checklist provided by www.brooklandscommercialfinance.com Brooklands Commercial Finance |
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A bridging loan can help during the following circumstances:
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Bridging loans can be useful as they can be arranged in a matter of days as opposed to a matter of weeks or months. |
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Bridging loans are for short-term finance and are typically available from 1 day to 24 months. |
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Due to the complexity of bridging finance and the vast array of lenders, it is prudent to use the services of a commercial finance broker. They should ensure that there is clarity, transparency, speed and flexibility. |
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Is the broker FCA regulated? | |
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Is the broker a full member of the National Association of Commercial Finance Brokers? | |
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How much do you want to borrow? | |
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What is the security that you will be giving the lender? | |
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Do you want to service the interest or have it rolled up and paid at the end? | |
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What are the lenders arrangement fees and interest rate? | |
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Does the lender charge an exit fee? | |
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What are the valuation and legal fees? | |
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Is there a minimum term? | |
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What is the exit route (How will the lender be repaid)? | |
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Is the borrower going to be a limited company or an individual? | |
