THE QUESTION
Can you recommend somebody who can help me with 100% bridging finance?
THE ANSWER
If you mean where you put nothing into the deal, that is not how bridgers work, except in exceptional circumstances. They always want a safety net built in so they can sell off the property quickly, if they need to, and recoup their money.
This means for virtually every deal you need to put up the balance of what they will lend with cash. Usually bridgers will lend 75% on residential properties and you have to put in the rest. With commercial properties is it usually no more than 70%, but can sometimes be even lower.
Most bridgers lend against the purchase price but there are a few that lend against value
There are exceptions to you need to put in a cash deposit:
So if you want 100%:
If you can’t answer meet either of these criteria satisfactorily, you won’t get 100% bridging and will need to put some cash in.
You can learn more here:
50% Complete
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