Since the recession began Short Term Finance has played a vital role in picking up new lending where the banks and traditional lenders no longer participate. It has enabled investors to continue to participate in the property market and supported a vital part of the industry.
Belgravia work with over 30 short term lenders, the vast majority are not high street names, they are much smaller lenders, with credit lines from the banks or their own funds.
Short term bridging loans are normally available for 1 day to 12 months and can be secured on a property that already has a mortgage or one without, normally up to a maximum of 75% of the property value for a first charge or 70% loan to value for a second (2nd) charge. A second charge is when the existing mortgage on the property will not be repaid on completion of the loan.
