As the capital city of the Republic of Ireland, Dublin partners a strong economy with historical interest. It is amongst the top thirty world cities, according to the Globalisation and World Cities Research network. Dublin is an important financial centre for many commercial and retail businesses.
For investors looking for property in Dublin, both residential and commercial, Novellus bridging loans in Dublin can help those talented businesses and individuals looking for short-term funding for property purchases and projects.
What Is A Bridging Loan?
A bridging loan bridges the funding gap while long term finance is secured. Bridging finance can be used when a traditional mortgage may be unavailable for various reasons. It is also suitable when short-term finance is required, as the process is usually very fast. The length of borrowing time for bridging loans are usually for periods ranging from several weeks to 12 months. However, the borrower can pay back a loan with Novellus, in full at any time within the term, without incurring any early repayment fees.
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What Can Bridging Loans Be Used For
Bridging loans can be used for many reasons, including:
Refurbishment and renovation – investors in Dublin, on the lookout for commercial properties and business opportunities may need a bridging loan.s. It can be a time-consuming process trying to obtain a traditional mortgage, so many investors look to bridging loans to provide the necessary funding to buy/renovate/develop properties in the short term.
Auction Purchases – When purchasing at auction it is necessary to pay a deposit immediately, with the balance due twenty-eight days later. Bridging loans provided by Novellus allow investors to access funding quickly, due to the quick approval process.
Buy-to-let – Dublin can provide many investment opportunities for potential landlords. Bridging loans allow investors to purchase buy-to-let properties whilst they try to obtain long-term funding.
Who Are Bridging Loans Suitable For?
Bridging loans are suitable for anybody looking to invest in any type of property in Dublin who requires short term, fast funding. As long as there is a clear repayment plan in place and a high-value asset to act as security the application will be considered.
Bridging loans can be used for any purchases that require a quick decision, as well as for commercial property developers working on a range of projects, from small to multi-million-pounds investments. They provide the opportunity to buy quickly and allow time to secure long-term funding. Bridging loans are also a good option for those developers looking to purchase uninhabitable properties which do not currently qualify for a traditional mortgage.
Novellus offer unregulated bridging loans, ranging from €500,000 to €5,000,000+. Whilst most loans with Novellus are based on an LTV 50 – 70%, we will consider LTVs of up to 90% in specific circumstances.
Bridging loans are suitable for anybody looking to invest in any type of property in Dublin who requires short term, fast funding. As long as there is a clear repayment plan in place and a high-value asset to act as security the application will be considered.
Bridging loans can be used for any purchases that require a quick decision, as well as for commercial property developers working on a range of projects, from small to multi-million-pounds investments. They provide the opportunity to buy quickly and allow time to secure long-term funding. Bridging loans are also a good option for those developers looking to purchase uninhabitable properties which do not currently qualify for a traditional mortgage.
To help discover the approximate costs involved with a bridging loan, use our online bridging loan calculator for guidance.
Who Can Apply For A Bridging Loan?
Anyone can apply for a bridging loan who has a high-value asset and an exit plan in place. We offer a stress-free application process, with no fixed criteria or credit committees involved. The best way to find out if you qualify is to simply call us today on 0203 397 4871 or fill out one of our application forms.
The town of Beckenham has a history dating back to the days of the Roman Empire. Today it has a population of approximately 56,000 people, and an increased focus on new property developments as well as the renovation of period homes. Simply put, the leafy suburb of Beckenham is experiencing a lot of growth.
Novellus Bridging are here to help businesses and individuals in Beckenham interested in acquiring existing properties or funding a commercial property development project, using a bridging loan finance model.
What Is A Bridging Loan?
A bridging loan is a form of short-term finance that could, for example, allow you to purchase a property short notice. A bridging loan would be secured against an asset by the lender, the application process is usually a quick one, giving you almost immediate access to the cash you need.
Bridging loans are typically taken out for periods ranging from several weeks to 12 months.
There are two different types of bridging loans:
Closed-bridge – These loans are provided on the understanding that they will be repaid on a specific date, typically when the borrower sells an asset.
Open-bridge – Although this type of bridging loan has no fixed date for repayment attached to it, there is usually a requirement for the loan to be repaid within 6 – 12 months of the date of issue.
Who Are Bridging Loans Suitable For?
Many borrowers are property speculators who are making their first purchase at auction and need access to temporary funding to pay for it. Bridging loans are also suitable for (and by no means limited to) commercial property developers working on multi-million-pound projects.
A common theme for bridging loans is for people and businesses that require access to temporary funding, that can be provided quickly and without the levels of bureaucracy found in most banks and high-street financial institutions.
Novellus offer unregulated bridging loans, ranging from €500,000 to €5,000,000+. While we prefer the loan to be based on an LTV of 50 – 70%, we will consider an LTV of up to 90% in specific circumstances.
As we are self-funded, we have no credit committee. This means we can reach a decision on your application quicker than most of our competitors.
You can use our online bridging loan calculator to get an estimate on what costs are involved with your financial requirements.
Who Can Apply For A Bridging Loan
We offer a pain-free application process, with no fixed criteria or credit committees involved. The best way to find out if you qualify is to simply call us today on: 0203-3974871 or fill out one of our application forms.
