Paxton Private Finance added to Bridging Loan Directory

By Bridging Loan Directory 7th February 2012

Paxton Private Finance has recently been added to the Bridging Loan Directory.

Paxton Private Finance is committed to providing a ‘bespoke’ lending platform, which is increasingly benefiting from a reputation as a reliable source of finance.

Paxton Private Finance offer their clients fast, non-status, open and closed bridging loans, as well as short-term finance for auction purchases.

Paxton Private Finance particularly like ‘buy-refurb-sell/refinance’ type projects. Typically, their clients will be adding value as works progress and, whilst their lending is based initially upon current open market value, further draw-downs can be made available if required.

Should a borrower be able to substantially fund the refurbishment works from their own resources, then they can be very aggressive with our LTVs at acquisition – they have previously agreed 90% of current open market value.

Naturally, Paxton Private Finance will consider traditional acquisition and capital raising transactions at up to 75% of open market value on a 1st and 2nd charge basis. Loans outside the normal parameters will also be considered.

Paxton Private Finance is funded by a network of private investors and their own Paxton Secured Income Fund, which provides the opportunity for investors to participate in the short-term finance market through a conservative onshore fund structure.

Primary Loan Criteria

Loan Size : Maximum loan size of £1,000,000.

LTV Ratio : Typically 75% of current open market value

Interest Charges : 1.20% – 2.00% per month.

Fees : No upfront fees; lenders arrangement fee 1.00%.

Loan Term : Minimum term of 1 month; maximum term of 6 months.

Borrower : Individuals and UK companies only.

Security : 1st & 2nd legal charge considered.

Preferred Location : London and the Home Counties.

General Criteria

Freehold Or Leasehold, Semi‐Commercial Considered, Auction Purchase, Fast Completions, No Upfront Fees, Low Valuation Costs, Competitive Lenders Legal Costs. All Interest And Lender Arrangement Fee Deducted From Loan Proceeds.

Online directory Bridging Loan Directory is aimed at IFAs, mortgage brokers and lenders that are serious about securing fast and effective solutions for short term finance.

The site offers a comprehensive list of key companies specialising in bridging loans and interim commercial finance for a multitude of purposes – from property development to buying a new house or paying an unexpected tax bill – so that intermediaries can select bespoke solutions for their customers.