Paxton Private Finance launch All England 2nd charge bridging finance product
Paxton Private Finance, an independent, principal lender which specialises in providing alternative, non-regulated, short-term finance solutions, are pleased to announce the launch of their All England 2nd Charge Bridging Finance Product.
The All England 2nd Charge Bridging Finance Product has been structured to provide funding for part-completed property developments, as well as traditional capital raising. The product will assist developers who, after exhausting initial funding lines, require additional finance to complete their development.
The All England 2nd Charge Bridging Product can be secured against Residential, Semi-Commercial and pure Commercial properties located in England. The maximum loan-to-value is 70%; maximum loan size is £100,000. Interest payments can be serviced monthly or the loan can be grossed up at no more than 70% loan-to-value.
Product Headlines :
|LTV||70% of Current Open Market Value|
||Maximum Loan Size £100,000|
||Minimum 1 month; Maximum 6 months (may be extended)|
|SECURITY||Residential, Semi-Commercial, Commercial|
Nick McLean, Partner, Paxton Private Finance said:
“The launch of the All England 2nd Charge Bridging Product targeted at developers with part-completed projects and our recently launched Refurbishment & Conversion product further demonstrate our commitment to providing much-needed funding to small property developers.”