About Us
PFN Finance specialises in all element of commercial finance funding. As independent commercial brokers we have access to a large range of Banks, Building Societies, Finance Houses and Specialist lenders. Our staff have a wealth of knowledge and expertise in Building A Property Portfolio in this sector with an excess of 35 years of experience. Our knowledge of the industry makes us very aware that poorly researched or presented application form are very often completely rejected for the wrong reasons.We use our knowledge to approach an appropriate lender for the particular case. This provides the client with a competitive package straight away whatever to requirements.
WE ARE A BROKER, NOT A LENDER Following an initial discussion, we will agree the way forward, hold detailed discussions with you, normally face to face, to gain all the necessary information with a view to getting a straightforward and positive decision from the lender. We operate with a policy of no up-front fees. Our fee package is flexible and only payable on results. All fees are agreed in advance and confirmed in writing.
Short-Term Bridging Loans
Did you know that bridging finance could be the best solution for your next investment project? We’ve put together this article to let you know what it is and just how it works! If you’re looking for the best bridging loans and short term bridging loans, PFN Finance has you covered. Here’s how bridging finance works.
When Do You Need A Bridging Loan? You can opt for short term bridging loans or bridging finance when you need to complete the purchase of one property before you’ve finalised the sale of another one. Bridging loans are often used as interim facilities to quickly purchase properties, facilitate cash flow, or even fund smaller work while long-term finances are being put into place. Here are a few scenarios, to help you understand better: If a property investor wants to grab hold of a good purchase opportunity at an auction. They may want to revamp the property for buy-to-let, so they’ll need to arrange permanent finances. In the meantime, a short term bridging loan is ideally used to complete the sale. A part-time investor wants to generate short-term business cash flow, as well as get planning permission to turn the property from commercial to residential. They could take out a bridging loan for pre-construction finance till they can get a development loan. Property developers can use short-term bridging loans to consolidate borrowing in one place till a sale is fully completed. This way, they don’t have to manage many different lines of finance at once, which can get very unwieldy.
Open vs. Closed Short-Term Bridging Loans
Bridging finance is often characterised as either “open” or “closed”. A closed short-term bridging loan is when there’s a defined exit plan, with an established timeline. An example of this would be when contracts are exchanged, but the completion of either of the transactions is delayed. These types of short-term bridging loans are usually considered the best bridging loans in the eyes of lenders and borrowers, both. This is because it gives both sides a sense of certainty. Open bridging loans on the other hand, have no fixed timings and oftentimes the repayment source isn’t very clear.
Conclusion
Now that you know more about bridging finance, you may be more inclined to carry forward with your latest project using this loan method. For the best bridging loans, contact us at PFN Finance, and we’ll help you get what you need!
Contact Us Address - Roadside Farm, Little Salisbury, Pewsey, Wiltshire, SN9 5NB. Phone - 01672 569040 Email - info@pfnfinance.co.uk
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