BRIDGING FINANCE GALWAY

Dependable Bridging Finance That Gets Closer To Your Business Needs

County Galway is renowned for being one of Ireland’s friendliest cities located on the west coast and just 2.5 hours from Ireland’s capital Dublin. Galway is popular with both locals and international tourists and hosts a range of popular international festivals and events each year.

For investors, Galway offers unique opportunities in an area where prices are rising steadily and good rental yields can be achieved. Novellus bridging loans in Galway can assist businesses and individuals seeking short-term finance for property investments and projects.

BRIDGING EXPLAINED

What Is A Bridging Loan?

A bridging loan is a short-term finance option that can be used for various purposes.

For example, when you are looking to purchase a property at an auction where funds are needed quickly. The bridging loan can be secured against an asset, such as a property, and the bridging loan application process is usually fast. A Novellus bridging loan can give you quick access to funds when you need them the most.

Bridging loans are an ideal solution for investors who cannot secure a traditional mortgage for different reasons. Also, they can help bridge the gap whilst a longer-term finance solution is arranged. Novellus Bridging is an unregulated lender, providing short-term loans to both businesses and individuals (landlords).

Bridging loan terms can be agreed upon on a case-by-case basis, but usually, they are arranged for a few weeks and up to 12-18 months. A Novellus bridging loan can be repaid early without any financial penalty or early repayment fee being incurred.

WE STRIVE FOR 100% CUSTOMER SATISFACTION

Testimonials

“We wanted to release initial equity from our site with further instalments during the term to fund other projects. Novellus offered us an extremely competitive rate of 0.7% pcm, fixed for 2 years, engaged with us quickly, visited the site and conducted their due diligence efficiently. Novellus were professional and courteous throughout the process and a pleasure to deal with.”.

“Having dealt with Novellus for 12 months now, I can confidently say they are great to deal with. They've been very straightforward, understanding, and brilliant with communication. The team have been particularly helpful throughout and are always at the end of the phone/email to answer any questions or concerns no matter how big or small.”

“Novellus’s customer journey was straightforward. They have a reputation for being sensitive to time pressure and were able to provide finance quickly for my project. They have a good range of products and very good levels of customer service. I look forward to working with them again in the future.”

WHAT CAN BRIDGING LOANS BE USED FOR

Bridging loans have multiple uses, including:

COMMERCIAL

BRIDGING FOR COMMERCIAL PURPOSES

Acquiring a loan for commercial purchases can be a time-consuming process, often requiring extensive documentation and a long underwriting process. This lengthy process can lead to a borrower losing out on a potential deal due to the lack of funding. However, bridging loans offer a speedy funding solution for commercial property purchases, allowing investors the chance to secure purchases ahead of other buyers.

Land purchases

Bridging loans for Land purchases

Securing finance through a bank to purchase land with no existing buildings or services can be a challenging process, requiring extensive documentation, underwriting, and a lengthy waiting period. In contrast, bridging loans offer a more flexible solution for land purchases, even if the land has limited or no planning permission in place. A bridging loan can provide the necessary funds quickly, enabling the borrower to purchase the land and then use the loan’s flexible repayment terms to allow for the establishment of planning permission.

BUY-TO-LET

QUICK TURNAROUND BRIDGING LOANS

Bridging loans can be an effective financing option for those looking to purchase buy-to-let properties in Galway. Traditional mortgages can take a long time to process, which can result in missed opportunities or delays in securing a property. In contrast, bridging loans offer a fast and flexible solution to purchasing buy-to-let properties.

Bridging loans can be used to solution for land purchases, from single units to entire apartment blocks. These loans provide borrowers with the necessary funds to purchase a property quickly, allowing them to complete a deal before other potential buyers.

Get some great insights from one of our commercial finance specialists,
call us on +353 1 531 4237 or apply online.

Suitability

ARE BRIDGING LOANS SUITABLE FOR ANYONE?

Bridging loans are suitable for anyone seeking funding for property or land purchases in Galway, particularly for those who require short-term and fast funding. To be considered, the applicant must have a clear repayment plan in place, as well as a high-value asset to act as security.

If a property sale requires a quick decision, a bridging loan can be a suitable funding option. Bridging loans are also suitable for commercial property or for property investors working on large projects. One of the main benefits is that they allow investors to buy quickly, providing them time to secure long-term funding, without losing out on the prospective purchase. They are also an option when a property does not qualify initially for a traditional funding source.

Novellus offer unregulated bridging loans ranging from € 500,000 to € 5,000,000+. Whilst most loans with Novellus are based on an LTV of 50 – 70%, we will consider LTVs of up to 90% in specific circumstances.

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 1-2 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 you have bad credit, we can help you obtain a loan thanks to our flexibility with credit status

Accessibility

Can Anyone Apply for a Bridging Loan?

We consider every application on an individual basis and provide a straightforward process. Anyone can apply for a bridging loan because we have no fixed products or criteria and base each application on its own merits when making a decision.

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.