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Bridging loan
Frequently asked questions about bridging loans
Commercial Acceptances specialise in bridging loans and particularly in arranging fast bridging loans.
Why arrange a bridging loan with us?
- Highly competitive bridging loan rates and LTV's up to 85% in Central London
- Regulated by the Financial Service Authority (FSA) for regulated mortgage contracts
- 25 years in the marketplace
- Turnaround targeted for 5 working days and faster in many cases
- No minimum or maximum periods
- No application forms for non regulated bridging loans
- Principal lender
- Non status lending
- Bridging loans from £26k-£3.5Million
- No early repayment charges
- No credit committee-deal directly with the decision maker. No call centre
- Fast friendly service
- Brokers welcome
- £200 admin fee only on completion of the loan
Bridging loan
- How do I get a fast bridging loan?
- What happens once I have applied for a bridging loan?
- How much can I borrow?
- What percentage of the value of the property do you lend?
- How soon can I have the bridging loan money?
- What are the bridging loan rates and charges?
- What are the penalties if I pay back the loan more quickly than agreed?
- What security is required for a bridging loan?
- How is it that you can lend money so quickly?
- Are you regulated by the FSA?
1. How do I get a fast bridging loan?
To arrange a fast bridging loan we will need the following initial information:
- your name and full address
- the address of the property being offered as security to include postcode
- the estimated value and a description of the property
- the name and contact details of your solicitors
- bridging loan amount required
- the proposed method of repayment
Once you have the above information contact us immediately.
2. What happens once I have applied for a bridging loan?
We will quickly process your application for a bridging loan and give you a decision in principle over the telephone and in writing.
3. How much can I borrow?
Typically sums advanced are from £26,000 to £3.5m depending on the value of the property being offered as security.
4. What percentage of the value of the property do you lend?
We generally loan up to 70% of the value of the property. We will lend as high as 85% of value in some cases.
5. How soon can I have the bridging loan money?
The fastest loan we have advanced was on the same day of the initial enquiry.
6. What are the bridging loan rates and charges?
Interest at 2.5%–3.0% above 3M LIBOR p.a. plus a facility fee of 0.75%–1% per 30 days.
7. What are the penalties if I pay back the bridging loan more quickly than agreed?
No early repayment charges.
8. What security is required for a bridging loan?
The bridging loan will be secured on the property being purchased. You can also borrow against other properties you already own if you wish to maximise the amount of the total bridging loan.
9. How is it that you can lend money so quickly?
Commercial Acceptances is a principal finance lender - lending its own money on a commercial basis.
10. Are you regulated by the Financial Service Authority?
Yes, we are authorised and regulated by the Financial Services
Authority (FSA) which enables us to deal with regulated mortgage
contracts. A regulated mortgage contract is one where there is a first charge
over a residential or semi commercial property and the borrower or a member
of their family is or will be occupying more than 40% of the property.
Your home may be repossessed if you do not keep up repayments on a mortgage or any other debt secured on it.
