MT Finance can assist with bridging finance in Nottingham and surrounding areas such as Derby and Stoke-on-Trent. With a dedicated Business Development Manager in this region, we draw upon personal experiences to be able to help you with your project and find the perfect funding structure for you.
We offer fast funding for a property transaction ranging from £50,000 to £10 million repaid over 1 to 24 months, helping you to access capital in days or weeks, rather than months.
Chris Parr is our dedicated business development manager for the Nottingham area. Enquire today using our form or call on 0203 051 2331.
Why Use MT Finance For Bridging Loans in Nottingham?
Our customer service is what separates us from other bridging lenders and we have been consistently recognised with awards for customer services by Moneyfacts and other industry experts. We have the ability to come back to you with indicative terms within 24-48 hours and provide sound advice to get your finance into the best structured terms and in position for fast funding.
In addition, MT Finance prides itself on having a knowledge of the local area, with more than 15 years of trading across the the whole of the UK. Our personal experience of Nottingham can help you guide your property transaction in the best way possible.
To being, we want to understand your project and offer an initial quote. We carry out some initial checks and can grant you an offer and aim for funding in 2 to 4 weeks.
MT Finance will always help you access the most competitive rate, tailoring a solution to fit your financial requirements – and we are proud to offer no upfront fees or early exit fees either.
What Can a Bridging Loan in Nottingham Be Used For?
Bridging loans allow you to complete a property transaction quickly by making you a cash buyer. The loan is secured against the property in question and have a charge against this means that transactions can be completed quicker, avoiding lengthy mortgage processes and delays from property chains.
The most common types of borrowers are property developers and investors that may be looking to fix up a property and resell it for a higher price, rent it out to tenants or simply build up their portfolio.
We offer bridging finance in Nottingham 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 With Bridging Loans?
We charge a monthly interest rate which may vary depending on various factors such as the level of risk and 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 Nottingham With MT Finance
Simply get in touch with our BDM, Chris Parr, who manages our deals and completions in Nottingham. You can email us at enquiries@mt-finance.com or call 0203 051 233.
To start, we require some basic information about the property, including its current valuation and your proposed plans for it. We require applicants to have a clear exit strategy and show evidence of costs and analysis – which helps us to lend to customers with confidence.
It is also helpful to have essential business information ready to go, including previous bank statements, proof of identification, proof of assets and liabilities. This will help move things along as quickly as possible.
FAQs
Which Areas of Nottinghamshire and Derbyshire Do You Serve?
We cover the whole of Nottinghamshire including Newark, Mansfield, Rushcliffe, Grantham, Arnold, Bingham, Bulwell, Hucknall, Ilkeston and more.
We cover the whole of Derbyshire including Chesterfield, Swadlincote, Ilkeston, Long Eaton, Belper, Dronfield and more.
How Long Does a Typical Bridging Loan Take To Be Approved?
We 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 the transaction.
How is The Interest Repaid?
The 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.
It is Difficult To Get a Bridging Loan in Nottingham?
Not necessarily. Bridging lenders are willing to take a view on customers with adverse credit histories and are able to offer loans as long as there is good security and a well thought out exit plan in place.
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.