Bridge Invest has joined the lender panel of Brickflow, enhancing the options available for borrowers seeking bridging finance. This partnership allows borrowers to access flexible funding solutions, significantly streamlining the borrowing process.
What are the Key Features of Bridge Invest’s Bridging Finance Offering?
With the updated proposition from Bridge Invest, brokers using Brickflow can now facilitate loans of up to £10 million in a single transaction. The lender provides finance options of up to 75% of the open market value (OMV) for residential and semi-commercial properties, while commercial assets can secure up to 65% loan-to-value (LTV). This flexibility is particularly advantageous for those looking to invest in diverse property types without the burden of repeated legal and valuation processes.
How Does This Impact Borrowers and Brokers in Bridging Finance?
This new arrangement is significant for both borrowers and brokers. For borrowers, the ability to draw on funds multiple times over a two-year period can facilitate quicker access to capital for property investments or renovations. Brokers, on the other hand, gain access to a broader range of financing options, allowing them to better serve their clients’ needs. Glenn Franklin-Jones, director of lender relations at Brickflow, highlighted the importance of supporting lenders who are expanding their offerings, which ultimately benefits the market.
What This Means for Investors and Landlords Seeking Bridging Finance
Investors and landlords stand to gain considerably from this enhanced bridging finance option. The ability to secure substantial funding quickly can help them seize opportunities in a competitive property market. The streamlined process reduces the time and costs associated with traditional financing, making it easier for them to act swiftly on potential investments.
Frequently Asked Questions
What types of properties can I finance with Bridge Invest?
Bridge Invest offers financing for residential, semi-commercial, and commercial properties, with specific LTV ratios depending on the property type.
How does the multiple drawdown feature work?
The multiple drawdown feature allows borrowers to access funds up to 65% of a property’s value multiple times within a two-year period, simplifying the financing process.