Service for UK & International Property
Rates from: Downsizing/Upsizing Releasing Funds From Your Home Short Term Lease Finance Auction Purchase As at 16th June 2022 Rates from: Light & Heavy Refurb Finance For Unmortgageable Properties Land Purchase with planning As at 16th June 2022 Rates from: Up to 80% LTV Minimum Loan £500k Minimum net income £100k Serviced monthly interest required As at 16th June 2022
Buying Before Selling?
Development & Refurb
Large Bridging Loans
Releasing Funds From Your Home
Short Term Lease Finance
As at 16th June 2022
Light & Heavy Refurb
Finance For Unmortgageable Properties
Land Purchase with planning
As at 16th June 2022
Up to 80% LTV
Minimum Loan £500k
Minimum net income £100k
Serviced monthly interest required
As at 16th June 2022
During the first discussion with a broker about a bridging loan, you should hear the phrase “exit strategy” or exit plan. This is a key part of your application for a bridging loan.
An ‘exit strategy’ is the plan for repaying the bridging loan when the agreed timescale of the loan lapses.
With any loan you take out – be it long term or short term – you should have an established strategic plan of how you are going to repay this loan.
You must repay this loan. If you default on your payment, and you loan is secured against an existing property you own, you could loose this property. So, a clear and viable exit strategy is really important.
Some lenders will happily extend their terms for the loan assuming there is a plan in place to repay the loan (eg if this is an open loan), however in some cases you run the risk of penalty payments.
Your exit strategy could be:
An exit strategy will be different depending on what your situation is - the details of your reason for needing the loan will dictate what your exit strategy is.
For example, if you want to get a bridging loan in order to buy an investment property, you could establish an exit strategy which secures the loan against the value of your own home.
Once you have your exit strategy, you’re going to do up and sell the property.
The exit strategy in this situation is the sale of the investment property once it has been refurbished. Alternatively, the exit strategy here could be taking out a buy-to-let (BTL) mortgage on the investment property which would pay out the bridging loan, and enable you to make money by letting out your property.
I approached Clifton Private Finance to help me get a mortgage as an Expat working in the Far East. I would normally 'cut out the middle man' on something like this and try to get myself a deal directly with the banks, but I am now sold on the broker concept and wouldn't hesitate to use Clifton Private Finance again. There were a number of complicating factors such as being an expat, the stamp duty holiday, the sheer amount I wanted to borrow and the fact I wanted it all wrapped up before the Stamp Duty holiday ended. It is clear to me now that the relationship that brokers have managed to foster with their banks means they can simply pull levers and make stuff happen that us ordinary folk cannot. Put simply, they are worth every penny, will take most of the stress out of the lending process, and seem to have access to deals that you just won't find on the internet. Thank you George and Jan for all your hard work!
Luther was excellent. Very clear in his advice and explanations of products and was able to move things on very quickly when we ran into difficulties with the estate agents. Without a doubt I would recommend Luther to all friends, family and colleagues. Luther was a joy to deal with and took a lot of the stress out of a troublesome transaction, from my end. I would view Luther as real asset to Clifton Private Finance Ltd.
The team at Clifton Private Finance has been outstanding, not only in helping me to obtain a mortgage on a slightly unusual home, but also in continuing to provide support and liaise with the lender and solicitors through to completion. Thank you for making the process of buying my first home much easier.
Sam O'Neill, and the new lender he identified for me, worked tirelessly together using my time constraints, to make sure my mortgage application was completed on time. They are a brilliant company to work with, fast, efficient, open and transparent from the very beginning, and turned a seemingly impossible situation into a viable one. Sam was brilliant throughout the whole process and I would highly recommend him, and his colleague Helen, to anyone without hesitation, I cannot speak highly enough about them.
I was incredibly lucky to find Clifton Private Finance after a search on line as their service has been more than exemplary. My point of contact was Sam 0’Neill and he was happy to help at every stage during the application of the bridging loan, making a stressful process much easier to deal with. He was always available by phone or email and gave prompt answers to queries I had as well as always getting back to me when he said he would. That to me is excellent customer service and I cannot thank him personally or the company enough for the support they have given me.
Adam cannot thank you enough for all your support throughout this arrangement. You have gone more than the extra mile to support us. Without you we would not have got our dream retirement home. You have been most professional and personable. Liz and I would be more than happy if you wanted to use us a reference with respect to any future clients.
Nigel & Liz K - Bristol
You have certainly shown me that you do everything for your clients, including tolerating their excessive emails and questions for updates. I have been kept in the loop, from yourself, about why the delays were occurring (Nationwide, post etc) which I would like to highlight that I really appreciated. I certainly will be able to recommend you to others as and when the need arises.
I recently contacted Clifton Private Finance after a Google search for bridging finance providers and was immediately struck by their efficiency and support. Forms were emailed over almost immediately and the necessary finance was arranged within a few days. None of the other companies I contacted came close to their professionalism, and the quote that I eventually received was impressive. Thank you Adam, your help has enabled us to reserve the house that we wanted and I certainly recommend you to others.
Mr M. R. - Oxford
Absolutely brilliant. The service was first class, got everything sorted efficiently and were always friendly. Any fees were negligible compared to the service offered. Robert was particularly outstanding.
My advisor, Robert, was very helpful in finding the mortgage to suit me. He kept me up to date throughout the process and dealt with any issues when they arose.