Information
A bridging loan can be used for any legal use, but they are mainly used for such things as purchasing and refurbishing commercial property, investment property, mixed-use developments, land, with or without planning, buy-to-let portfolios or the refinancing of existing loans.
Yes. It is possible to obtain a bridging loan with impaired credit. Each lender will have different lending criteria. The exit strategy is an important consideration; if your credit issues are likely to affect your chances of obtaining long term finance, your application is less likely to be approved. However, if the intention is to sell the property to finance the bridging loan, your application in these circumstances will be considered more favorably.
Up front communication in relation to historic credit issues helps greatly in the underwriting. We understand that not all individual cases are the same, and history can be complex. Historic financial issues will not mean a rejection without first looking holistically at the merits of individual cases. We believe that the past does not have to dictate the future. However, the more information we have up front will enable us to clearly communicate to our Lender panel how they might consider the risk and ensure that any issues can be swiftly dealt with before abortive costs might be incurred.
Get a Quote
Get started for free now by simply entering your contact details via the button below. One of our specialists will be in touch shortly.
Leveo is a specialist broker that can help you compare bridging loans in Ireland ranging from £250,000 to £25 million.
Based in the centre of Dublin we aim via our unrivalled service through our Lender Panel to provide you with focused, reliable and secure specialist property finance terms – giving flexible solutions for your needs – at highly competitive rates and costs – and a service you can rely on and trust