Lumi Bridging Solutions?
Are you a property developer or Investor?
Understanding the basics of how property auctions work can be a massive benefit when attempting to secure a competitive deal. The key is understanding the full scope of what type of property you are actually purchasing and not paying an over inflated price that will leave you regretting some of the decisions you made in the biding process. For the most part, lenders will only lend against the lower of purchase price or valuation and apply their loan to value percentage on that basis.
Explain Auction finance?
This type of finance allows an applicant to be pre-approved so when you place a successful bid at auction you know immediately that you will be able to obtain the funding required for the property. This type of bridging finance allows you to able to show proof of funds and conclude the deal to the auctioneers within the 28 day period most auction houses stipulate. This ideally is the best form of finance for this type of property deal especially if the property is in a dilapidated state.
A conventional buy to ley mortgage could take 6-8 weeks to complete by which time you would have missed out on the auction deal, lost your deposit (10% of purchase price + fees) and incurred other charges from the auction house for not being able to complete the deal within the specified timeframe. Some lenders for residential properties sourced from auction houses may work off the purchase price rather than valuation so bear in mind most auctioneers will provide a full property pack detailing key information a lender will scrutinise and observe.
Bridging finance can be completed within the 28 day timeframe as well as providing funding towards refurbishment if required.
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Helping increase the chance of greater success, with pre-qualifying funding
Commercial Bridging Finance
Looking to buy a commercial property or need funds for another business purpose?
Bridging Finance to break that chain
Need a bridge until you can sell your current home, or simply release funds for another project.
Buy to Let Bridging
Buying at auction or a property for refurbishment?
A bridge can give you funds fast to complete that quick purchase.
Borrow from £25,000 to £50m
No matter how much you want to borrow, we will do our best to make it happen, without the fuss or headache.
Rates from as little as 0.4% per month
Lender’s rates change regularly, so we always scan the market to get the best rate for your specific circumstances.
Make use of our in-house accountants
Their expertise and experience are part of our service and at your disposal.
Contact us today for all your bridging finance, buy to let mortgage, commercial mortgage, bridging loan for house purchase, HMO purchase, emergency cashflow loans, auction finance, bridging loans for property development, bridging loan mortgage, business bridging loan, commercial development financing.
Bridging finance for your home move or investment property
Find the right bridging finance at Lumi Bridging Solutions
Contact us today for your bridging finance, buy to let mortgage, commercial mortgage, bridging loan for house purchase, HMO purchase, emergency cashflow loans, auction finance, bridging loans for property development, bridging loan mortgage, business bridging loan, commercial development financing.
Bridging finance for your commercial or residential property
LUMI BRIDGING SOLUTIONS IS A TRADING NAME OF FEINGOLD FINANCIAL SERVICES LIMITED
Company registration number 05087823. FCA registration number 303451. Data protection registration number Z8766562
Registered office: 1st Floor, Swan Buildings, 20 Swan Street, Manchester, M4 5JW.
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE SECURED AGAINST IT.