MT Finance can help with bridging loans in Leicester and neighbouring towns such as Loughborough, Market Harborough, Melton and Coventry. With a dedicated Business Development Manager that covers Leicestershire, we are in the perfect position to help you with your funding requirements and deliver the best structured terms possible.
For bridging finance ranging from £50,000 to £10 million, borrowers can repay over 1 to 24 months – and we offer quick funding in days or weeks, rather than months.
If you have an exciting project and want to complete quickly, our team is on hand to help you achieve your goals.
Chris Parr is our dedicated business development manager for the Leicester area. Get in touch today using our form or call on 0203 051 2331.
Why Work With MT Finance For Bridging Finance in Leicester?
We have been recognised with awards for customer services by Moneyfacts and other industry experts year-on-year. With more than 15 years of trading, we have a strong understanding of what makes a project successful and how we can arrange the right terms for your needs.
At MT Finance, speed is of paramount importance. We are able to come back to you with indicative terms within 24-48 hours and will use our experience and local knowledge of Leicester to get everything in the best position for completion.
MT Finance will always help you access the most competitive rates, tailoring a solution to fit your financial requirements – and we are proud to offer no upfront fees or early exit fees either.
What Can I Use Bridging Loan in Leicester For?
Bridging loans or bridge finance is often used to complete property purchases under a tight deadline – and the terms and funding turnarounds give property developers and investors far more scalability than borrowing from a traditional mortgage lender or bank.
Ambitious property developers will often seek out an opportunity, whether it is taking a property and renovating it so they can sell it for a higher price or rent it out to tenants – or simply expand their property portfolio.
The speed of funds and loan structure makes you a cash buyer, which means that you can act fast and break property chains if you stuck in a long
Bridging loans can be used for residential, commercial and multi-purpose properties via first or second charge loans, auction finance, refurbishment loans and more.
We can assist with the purchasing, refurbishment and renovation of:
- Barns and farmhouses
- Commercial property
- Offices and work environments
- Residential investments, including HMOs and multi-lets
- Semi-commercial property
- Student accommodation
What Are The Fees Charged With Bridging Loans?
We charge a monthly interest rate which may vary depending on various factors such as the level of risk and loan to value (LTV). This interest is often rolled up and paid upon the sale or exit of your project. See our product guide for up-to-date figures.
At MT Finance, we do not charge any early exit fees, although this is common in the industry.
See also, the fees associated with bridging loans.
How To Apply With a Bridging Loan in Leicester With MT Finance
Simply get in touch with our BDM, Chris Parr, who manages our enquiries in Leicester. You can email us at enquiries@mt-finance.com or call 0203 051 233 to speak to an advisor.
We require some basic information about the property, including its current valuation and your proposed plans for it. We require borrowers to have a clear exit strategy and show us their costs and analysis – and this information is key to being approved and receiving the best terms.
It is also helpful to have your essential business information ready to go, including previous bank statements, proof of identification, proof of assets and liabilities. This will help us move things along as quickly as possible.
FAQs
Which Areas of Leicestershire Do You Serve?
We cover the whole of Leicestershire including main towns of Melton Mowbray, Wellingborough, Loughborough, Rugby, Coventry, Nuneaton, Corby, Northampton, Daventry, Kettering and more.
How Quickly Can You Approve and Fund a Bridging Loan?
We can approve a bridging loan enquiry in just a few days always aim to complete bridging deals as quickly as possible and within 2 to 4 weeks. This timeline may vary depending on the complexity of your property.
Is a Bridging Loan Secured?
Yes, we take a charge against the property as security – and the property’s value and condition will determine the rates, terms and fees that you are offered. As security, your property is as risk if not repaid.
How is The Interest Repaid?
The interest repayments are rolled up until the end of the loan term and paid upon the exit, sale of the property, refinance of the loan or if it is converted into a buy-to-let-mortgage.
What Happens If I Cannot Repay My Bridging Loan?
In the event that you cannot repay your bridging loan or your construction work is taking too long, you will likely include a penalty fee and continue to pay monthly interest until the loan is repaid in full. Your property may be at risk of repossession or you may have the option to refinance your loan under different terms.
Simply email us at enquiries@mt-finance.om or call 0203 051 2331 to speak directly with Chris Parr, our specialist BDM for Nottingham.