Deal Makers and Breakers

In the bridging and short term finance sector, flexibility, fast decisions and reliability on the part of the lender is crucial, as borrowers are often under pressure to complete deals within a very tight deadline. There needs to be a short-term finance lender which both brokers and borrowers can rely on. This is Bridgebank Capital.

“Completing a bridging finance deal in itself is not hard at all and should be seen as a solution to a problem, instead of the problem itself”.

Deal Makers:

  • Current, satisfactory valuation from an approved panel valuer
  • Valuation allows LTV in line with criteria and borrowers needs
  • Full and accurate application form and asset and liabilities statement
  • KYC and money laundering information all in order
  • Borrower uses a “quality” property solicitor

Deal Breakers:

  • Valuation does not meet borrowers expectations
  • False information on Application Forms and Asset and Liabilities Statement
  • KYC and money laundering information not provided or deficient
  • Borrower legal representation not versed in the time sensitive nature of bridging and short term finance, or not a legal or property expert
  • Inability to demonstrate a realistic and deliverable ‘exit’ for the bridging or short term finance

Time Takers:

  • Valuations being out of date or from nonpanel valuers
  • Delay in providing KYC and money laundering information
  • Missing information on application form and assets and liabilities statement
  • Slow solicitors