Daylight Bridging
We are pleased to introduce our competitive same day closed bridge facility available when there is simultaneous redemption i.e. remortgage same day.
Daylight Bridging Terms
- Residential freehold or long leasehold properties only
- EPF Administration Fee: £200.00 plus our legal fees
- EPF Arrangement Fee: 0.5%
- Introducer Fee: negotiated between introducer and client and paid direct
- Maximum LTV: up to 100% of the remortgage amount
- Maximum loan Amount: £500,000
- Minimum Loan Amount: £30,000
Daylight Bridging Notes
- A completed Property Bridging Loan Application is required
- Our normal underwriting criteria will apply
- Evidence of identity and address confirmation (passport and two recent utility bills confirmed as true copies by client's solicitor) to be provided by the introducer
- We will need sight of the valuation prepared for the long term lender and their Letter of Offer
- Our standard Loan Agreement will be issued
- An executed Mortgage Deed is required notwithstanding simultaneous redemption
- The property must be insured
- Non-regulated first charges only. No second charges
- Net redemption monies need to be greater than the Bridging Loan amount plus our Arrangement Fee