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Traditional Bridging Finance

The Traditional Bridging Loan is designed for property purchases - in particular at auction.

At outset Paxton Private Finance can lend, net of all fees and interest charges over an initial maximum term of 12 months, up to 75% of the current open market value and not the contract price. If the intention is to refurbish the property and the borrower is able to demonstrate that they have funds to compete the building works then we can consider a higher gross LTV. The term may be extended or renewed subject to refurbishment progress. After the first month, interest is charged on a daily basis. Typically, no exit fee is charged. The maximum loan for this product is £1,000,000. Loans outside the normal parameters will also be considered case-by-case.

Product Headlines
Loan-to-Value:

Up to 75% gross of current open market value

Loan Size:

Minimum loan size £100,000; maximum loan size £1,000,000

Interest Rate:
From 1.00% per month
Charges:

2% arrangement fee, typically no exit charge

Loan Term:

Minimum loan term of 1 month, typical term 12 months (may be extended)

Borrower:
Individuals and UK companies only
Security:
1st legal charge, plus Directors guarantees
Location:
London and the Home Counties

No Upfront Fees, Non-Status, No Accounts Required, Freehold/Leasehold, Semi‐Commercial Considered, Auction Purchase, Competitive Valuation & Lenders Legal Costs, Interest & Charges Deducted From Loan Proceeds.

For further information please contact our underwriting team on 020 7692 0635 or email This email address is being protected from spambots. You need JavaScript enabled to view it.

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