Montello Bridging Finance added to Bridging Loan Directory
Montello Bridging Finance has recently been added to the Bridging Loan Directory.
Online directory www.bridgingloandirectory.co.uk 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 – fromproperty development to buying a new house or paying an unexpected tax bill – so that intermediaries can select bespoke solutions for their customers.
Montello’s terms vary dependant on the specifics of each individual case, but are generally along the following lines:
- First charge loans
- Interest rates from 1% (typically 1.5%) per month
- Up to 75% LTV of Open Market Value
- No exit fees
- No upfront arrangement fees
The terms mezzanine finance and bridging finance are often used interchangeably. However, mezzanine finance normally involves subordinated (i.e. second charge) debt.
Bridging finance has a wide range of applications. In most instances, a borrower will require bridging finance in order to move quickly and capitalise on a particular opportunity that requires funding in a shorter time-frame than what a mainstream lender can provide. Bridging finance can provide borrowers with fast access to capital, with a minimum of red tape.
Unlike mainstream lenders, Montello has a very streamlined and un-beauracratic lending process, which allows a loan to be processed in a very efficient manner.
Christian Faes, MD at Montello Bridging Finance said:
“Montello Bridging Finance is a principal bridging finance lender in the UK. We are funded by alternative funding sources including our Montello Income Fund, private high net worth investors and a family office.”
“Our alternative funding sources allow us to provide finance that is fast, flexible and commercial.”