Long term bridging loans of 3 and 5 years available

Due to the high demand of domestic and global high worth individuals for real estate backed borrowing, a London-based bridging loan lender has come up with a 3-year term product to fill in this need not currently serviced by other lenders. Dubbed as the solution to bridge the gap between traditional short-term lending facilities and longer-term offerings, the 3-year bridging loan addresses the problem of intermediaries such as wealth managers, brokers, and IFAs, in finding bridging loans that would give them ample time to find and maximize the amount their clients can borrow for a piece of high-end property. This facility is linked to the Bank of England Base Rate (currently 0.50 per cent) and is designed for high worth clients with at least £1million in personal assets.  The minimum loan is £500k or minimum property value must be at least £750k.  LTV is up to 75% of the property value.  There is an option for interest only repayments.  Rental income from investment property is assessed at 120% of debt serviceability and a first charge is attached to residential property investments only. The 3-year bridge loan provides flexibility, attractive income-earning opportunities and an easy liquidity solution that would attract wealth advisers who oversee considerable amounts of assets in behalf of their clients. And if this isn't long enough, another different London-based lender also offers a 5 year bridging loan option in its portfolio too. As any property developer will tell you, projects invariably cost more and take longer than anticipated so while conventional bridging loans of 6-12 months are useful, all too often they are not long enough. For this reason we thing there will be strong interest in these two offerings. To speak to someone about your Bridging finance requirements please call Choice Loans on 0845 1260350 or complete our Bridging loan enquiry form here and we'll contact you.