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Try Financial can arrange short term bridging finance to purchase and re-furbish commercial and semi commercial property where the loan will be repaid either from sales proceeds or, being refinanced on to a longer-term loan either a commercial mortgage or, if converted to residential use, a buy to let mortgage. Before the bridging loan is approved, the lender will need the assurance that the loan will be repaid from a viable exit proposition.
Typically refurbishment bridging loans in the commercial property market are to convert larger properties into Homes of Multiples Occupation or conversions of business premises to residential use. At Try Financial arrange loans in England and Wales, and also Scotland. We can also obtain terms where our customers have impaired credit records.
Interest is usually paid in advance but calculated on a daily basis so that if a borrower repays before the end of the loan term, any overpaid interest is refunded. There are options to pay interest monthly if this is preferrable. Usually, the length of the loan is up to 24 months and and individuals can expect to sign a personal guarantee, and where purchase is through a limited company, in most cases, a debenture charge will be taken across all assets of that business.
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Thank you to Try Financial and especially Aaron for helping us buy our dream home. The whole process was made a lot less stressful thanks to your advice, chasing things... read more
Aaron was absolutely incredible throughout the whole process, constantly going above & beyond to get our mortgage sorted efficiently. Aaron was always happy to help and answer any questions I had... read more
When we decided to buy a new home we where very unsure of the process of paying off our existing mortgage and applying for our new mortgage. After having the initial... read more
Helped us enormously and I wouldn't hesitate to recommend the company. Aaron was really helpful and informative throughout the whole process. Thank you!
As a first time buyer, I was a bit ‘in the dark’ with the whole process but I absolutely feel like I have sailed through with the help of Aaron... read more