BridgeCrowd joins Bridging Loan Directory
BridgeCrowd, the social way to borrow and lend, has this week become the latest bridging finance provider to join the Bridging Loan Directory.
Their experienced team have been lending and processing bridging loans for a combined 20+ years and come from a variety of financial and legal backgrounds.
BridgeCrowd have processed hundreds of loans and millions of pounds over the last 15 years and never lost any capital. They have developed extensive due diligence processes and procedures as well as paramount fraud prevention systems.
Their in house team of expert underwriters coupled with their exclusive products give them the competitive edge over high street alternatives. Because they are the lender, they can underwrite their own loans and as a result they are free from the restraints suffered by the major banks, which allows for a quick and simple turnaround.
BridgeCrowd offer loans from £25k to £2m that are arranged quickly and efficiently.
BridgeCrowd prides itself on its flexible criteria. They lend to individual borrowers with bad credit, no income, sole traders, limited companies, pension funds or multiple borrowers. They consider 1st, 2nd or 3rd charges on land, commercial, residential or bridging out of a bridge.
They consider 1st, 2nd or 3rd charges on residential, semi-commercial or commercial properties and 1st and 2nd charges on land with or without planning. As a lender are also happy to consider re-bridging or bridging out of a bridge.
They approve loans subject to valuation within 30 minutes of your application and their existing clients can complete in 24 hours. Their new customers complete in 10 days, but if you need to be fast tracked, this can be arranged.
You have the choice of paying the interest at the end of the loan period, or by servicing the loan monthly.
BridgeCrowd only ever offer loans that they have personally invested into. BridgeCrowd grew out of a family business. The directors, partners and founding family members have been involved in bridging for 20+ years and invest their own money into every single deal (subject to personal funds)
They use their tried and tested underwriting criteria and take the same precautions with investor money as if it were their own.
The average loan term is 6 months and their maximum loan term is 12 months.
BridgeCrowd take a 1st or 2nd charge mortgage over UK property. All of the properties are valued by a RICS approved surveyors who indemnifies them as to the value. Their maximum loan to value is 70%.
As an investor, you are directly assigned part of the loan and mortgage pro rata to your investment.