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.
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.
Bridging loans have multiple uses, including:
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.
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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.
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.