Large Bridging Loans
Madison Carter have been outstanding from start to finish. As a company they are extremely professional and worked tirelessly for us to get a successful outcome. I found Steven Coogan very knowledgeable and he was able to communicate everything to us in layman’s terms throughout the process. I would have no hesitation in using Madison Carter again and have already recommended them to friends.
Large Bridging Loans
What Are Large Bridging Loans?
Large bridging loans are short-term lending facilities backed by property for amounts over £3 million. These products are for high net worth individuals, ultra-high net worth or institutional borrowers.
Here at Madison Carter Finance, we are experts in the field of large bridging loans. We take the time to understand the full complexity of each of our clients’ circumstances. This allows us to ensure that you can secure the most appropriate bridging loan to meet your needs.
What Can I Use Large Bridging Loans For?
You can use large bridging loans for many purposes, including to:
- Buy a property rapidly.
- Purchase a property that is uninhabitable.
- Raise sufficient money to repay existing property development finance.
- Fix a broken property chain.
- Buy a property before the sale of your existing property goes through.
- Private Bank performance is slow or failing.
- Business purposes.
- Refinance an exiting facility.
- Refurbishment of a commercial or residential property.
If you require a longer term on a loan size of £50m+, say 5 years rolled up. This can be considered.
Largest Bridging Loan Advised On
3 working days from submission to the lender
Largest GDV Advised On
Why Choose Madison Carter Finance Large Bridging Loans?
For applicants with complicated circumstances, it is usually a good idea to use a lender specialising in large bridging loans. The reason for this is that some lenders see this high lending level to a single client as a major risk. Thus, the process may be difficult. A larger loan also requires a greater level of due diligence and complexity. Our specialist advisers have extensive experience in handling larger loans. In fact, the value of the largest loan we have advised on to do is £30 million. You can, therefore, be confident that we can manage your loan application effectively from end-to-end.
Take a look at other uses of Madison Carter Finance bridging loans.
What Does Large Building Finance Mean?
The term “large bridging loans” refers to a loan of a minimum of £3 million. Borrowers can use this loan in many different ways for property in Wales and England. These include:
- Residential properties
- Commercial properties
- Semi-commercial properties
- Newly-developed properties
This type of loan is frequently used for buying property assets, for example, a property portfolio of low-value properties or a single Prime London property. The client can, therefore, enjoy greater flexibility when it comes to “bridging the gap” and taking advantage of other opportunities. It allows them to carry on making new transactions or purchases while they wait for a different asset to refinance out, be sold, or until long-term finance can be arranged.
How Much Am I Able To Borrow?
A large bridging loan will start at £3 million with us and will not have an upper limit. However, Madison Carter Finance allows clients to borrow sums from just £500,000 if they prefer. The amount a client can borrow depends on how much they require, their liquidity, and the asset value they are borrowing against. Typically, the maximum LTV (Loan To Value) is 75% gross, but it may be as much as 85%.
I Have A Poor Credit History. Could I Obtain A Large Bridging Loan?
All the specialist loans we offer are accessible to people whose financial records are less-than-perfect. That includes CCJs, missed payments, and bankruptcies. The lender’s underwriters assess your application for a large bridging loan on its own merit, taking the overall economic picture and wider market into account. In order to ensure transparency, all underwriting is done at the outset, with agreement to the terms at an early stage. That means you’ll be aware of how your financial background will impact your funding as well as your repayments. It is important to us that you know your position and are able to move forward confidently.
How Long Will It Take To Arrange My Large Bridging Finance?
Here at Madison Carter Finance, we will work just as rapidly as our clients. In some cases, funds are available within three working days. Our turnaround is just four hours when responding to enquiries, so you can have confidence that somebody will give you the answers you need.
Is There A Higher Rate Of Interest On High-Value Bridging Finance?
Your loan’s interest rate varies depending on several elements, including:
- Base rate changes
- Wider economic movements
- Equity position
- The valuer’s comments
- Asset liquidity
Typically, though, large bridge loans will not have a higher rate just because of size. The asset’s liquidity, sponsors, background assets, and asset holding structures all have a part to play.
It is always our aim to ensure the process remains simple for borrowers, so we will give you the key figures you require in order to make a well-informed decision.
Does FCA Regulation Apply To Large Bridging Loans?
Our bridging products and large loans are unregulated, so you can live in the property as your main residence or the loan must be for business purposes.
What Is The Process For Repaying The Loan?
The process is the same as that for repaying any other kind of loan, and you will execute on your exit strategy.
How Do I Make An Application?
Initially, you should discuss your possible case with the BDM team. The contact page will help you find the most suitable communication method for you, from email, telephone, or live chat to a scheduled callback.
What Are The Benefits Of Large Bridging Loans?
The primary benefit of obtaining high-value bridging finance is that you can use it to make complex, larger purchases rapidly with no need to be held up by high-street lender criteria.
You can, therefore, seize opportunities quickly to avoid missing out and have some extra breathing room so you can put a traditional finance facility in place.
What Can High-Value Bridging Finance Be Used For?
Borrowers can use large bridging finance if they wish to pursue a fresh opportunity that requires a loan with a value over £3 million. Borrowers can then use this loan to purchase property portfolios, single large assets, or to exit an existing Development Finance facility, among other scenarios such as business purposes.
What Kind Of Property Could I Purchase?
Borrowers are able to buy different property types in Wales or England using their large bridging loan, from large rural houses to refinancing luxury homes in a prime location. They may be used for a variety of property uses, too, for example, to help purchase a hotel, shopping centre, or buy-to-let residential property. As so many different properties are acceptable, it is best to contact the Madison Carter Finance team in order to discuss requirements.
Am I Eligible?
Essentially, eligibility all comes down to your own personal circumstances, but in the case of large bridging loans in particular, the property the borrower intends to use as security has to have a minimum value of £3 million. We offer other bridging loans, however, for different loan sizes and circumstances. These are available to:
- Ultra-high net-worth individuals
- Foreign investors (whether an individual or company)
- High-net worth individuals
- Limited company structures
- Property investors
- United Kingdom ex-pats
What Details Are Needed For Processing Large Bridging Funds?
We require certain paperwork depending on individual cases. These may include:
- The large bridging loan’s purpose
- Evidence of how you will use the loan
- Exit strategy details
- Whether the property is being purchased by a company or an individual.
- Information about the security property, including its purchase price or value, full address, any outstanding balances, whether it is vacant or tenanted, and its yearly or monthly rental income.
- An asset and liability statement.
Other documentation may also be necessary.
Is There A Difference Between Bridging Finance In General And Large Bridging Finance?
Only the size of the loan differs between the other loans we offer and large bridging finance loans. All other aspects, from the required documents and underwriting process to the speed at which we complete the deal, are the same. Just like the other loans we facilitate, borrowers can make well-informed decisions about the interest payments that meet their specific circumstances. Usually, clients’ circumstances are more complex.
Which Exit Strategies Would Be Acceptable?
The exit strategies for large bridging finance are refinancing away from the large bridging loan or selling the asset.
What is the large bridging loan process?
- No forms fill in with Madison Carter Finance. We take your requirements in a meeting.
- We prepare indicative terms.
- If you are happy with the terms, we then request the documents to support the application.
- Madison Carter Finance submits your case to the lender.
- If it passes with the selected lender then valuation and solicitors quotes are provided.
- The due diligence process now takes place until the loan is completed.
What documentation is required for a bridging large loan?
- An up to date credit file
- Passport and driving licence
- Personal Bank statement dated within the last 3 months
For Property Developers & Investors
- Asset & Liabilities
- Driving Licence
- Business Bank statement dated within the last 3 months
- Credit file dated within the last 3 months
- Chart structure
- SPV – If appropriate