New Product Exclusive to Restore Finance - A Bridge to Open-Ended Term

Posted by Restore Finance on 25th February 2021 -

One of our panel lenders has chosen Restore Finance to offer this exclusive product to our clients... 

A Bridge to Open-Ended Term. 

This lender gives the option to convert your bridging loan to an open-ended term loan either at the end or during the term of the bridge. 

This means that if your anticipated exit isn't achieved you don't have to go to the expense of organising an alternative short or long-term facility or incur any possible expensive default costs. 

The Details: 

Loan Size: £50k to £250k. 

Interest Rate: 0.9% per month for the bridge, 1.25% per month thereafter. 

LTV: 65%. 

Term: Up to 12 months bridge with the option to move to an open-ended term. 

Repayment Method: Interest only. 

Location: England and Wales. 

Security: Commercial, unregulated residential and land. First charges only. 

Lenders Legal Fees: No upfront payment required. 

Adverse Credit: Allowed, all applicants welcome.