BRIDGING LOAN DUBLIN
Dependable Bridging Finance That Gets Closer To Your Business Needs
As the capital city of the Republic of Ireland, Dublin partners a strong economy with historical interest. It is amongst the top thirty world cities, according to the Globalisation and World Cities Research network. Dublin is an important financial centre for many commercial and retail businesses.
For borrowers looking for property in Dublin, both residential and commercial, Novellus bridging loans in Dublin can help businesses looking for short-term funding for property purchases and projects.
BRIDGING EXPLAINED
What Is A Bridging Loan?
A bridging loan is a form of short-term finance that could, for example, allow a borrower to purchase a property on short notice. The loan would be secured against an asset by the lender and the application process is usually a quick one, giving a borrower almost immediate access to the cash it needs.
Bridging finance can be used when a traditional mortgage may be unavailable for various reasons to bridge the funding gap while long-term finance is secured. Novellus Finance Limited is an unregulated lender, providing short-term loans to businesses.
The term for a bridging loan is usually 6 to 12 months. However, the borrower can pay back a loan with Novellus in full at any time within the term without incurring any early repayment fees (save for the notice period to repay or interest equivalent).
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What Can Bridging Loans Be Used For
Bridging loans have multiple uses, including:
Property refurbishment
Property REFURBISHMENT AND RENOVATION
Investors in Dublin, on the lookout for commercial properties and business opportunities, may need a bridging loan. It can be a time-consuming process trying to obtain a traditional mortgage, so many investors look to bridging loans to provide the necessary funding to buy/renovate/develop properties in the short term.
Property investment
Auction Purchases
When purchasing at auction it is necessary to pay a deposit immediately, with the balance due twenty-eight days later. Bridging loans provided by Novellus allow investors to access funding quickly due to the quick approval process.
Buy-to-let
Quick turnaround bridging loans
Dublin can provide many investment opportunities for borrowers. Bridging loans allow investing businesses to purchase buy-to-let properties whilst they try to obtain long-term funding.
Get some great insights from one of our commercial finance specialists,
call us on +353 1 531 4237 or apply online.
SUITABILITY
Who Are Bridging Loans Suitable For?
Bridging loans are suitable for any business looking to invest in any type of property in Dublin which requires short-term and fast funding. As long as there is a clear repayment plan in place and a suitable asset to act as security, the application will be considered.
Bridging loans can be used for any purchases that require a quick decision, as well as for commercial property developers working on a range of projects, from small to multi-million-euro investments. They provide the opportunity to buy quickly and allow time to secure long-term funding. Bridging loans are also a good option for those developers looking to purchase uninhabitable properties which do not currently qualify for a traditional mortgage or regulated loans.
Novellus offer unregulated bridging loans, ranging from €500,000 with no upper limit.
To help discover the approximate costs involved with a bridging loan, use our online bridging loan calculator for guidance.
The Benefits
Why choose Novellus for Bridging Finance
- Quick access to funds with no external credit committee to delay processing, offering credit backed terms
- Loans from €500,000 with no upper limit
- Options available with unsecured lending or 100% funding against assets
- Funds available in as little as 48 hours, but usually in 4-6 weeks from the application
- Funding is underwritten on a case by case basis which means quick decisions as well as a swift and easy process
- Normal loan term is generally between 6-12 months
- Early repayments can be made without incurring any early repayment fees
- If the borrower and/or its key personnel have bad credit, we may still be able to assist.
ACCESSIBILITY
APPLYING for a Bridging Loan?
We do not offer regulated loans. We will consider every application from businesses on a case-by-case basis.
Novellus offers a stress-free application process.
For more information simply call us today on +353 1 531 4237 or fill out our form below.
