Dependable Bridging Finance That Gets Closer To Your Business Needs
Limerick is one of Ireland’s oldest settlements and follows suit with many of the Emerald isle’s other cities. Limerick has seen steady growth over the last few years. In fact, it is now the second fastest-growing region outside of the capital of Dublin.
Limerick is known for having a solid rental market with a high demand for rental properties due to the city’s growing population, increasing job opportunities, and large student population attending the city’s universities.
In recent years, Limerick has also undergone extensive regeneration projects, which have resulted in significant improvements to the city’s infrastructure, including new housing developments, transport links, and public amenities. All of this led to an increase in property values and demand for properties in some regions of the city.
A bridging loan is a form of short-term funding that can be used for purchasing a property, particularly in cases where immediate funds are required, such as when buying a property at an auction. This type of loan can be secured against an asset, typically a property, and the application process is swift and hassle-free. Novellus bridging loans provide quick access to funds in urgent situations.
Bridging loans provide an excellent alternative for investors when traditional financing options (such as mortgages) are not available for different reasons. They are typically short-term financial products that can help bridge the gap whilst long-term finance is secured. Novellus Bridging is an unregulated lender, providing short-term loans to both businesses and individuals (landlords).
Bridging loans usually run for 12-18 months, with some flexibility, depending on a client’s circumstances. A bridging loan from Novellus can be repaid early without any early repayment fees or penalties being applied.
There is a range of uses for bridging loans, including (but not limited to):
Get some great insights from one of our commercial finance specialists,
call us on +353 1 531 4237 or apply online.
Bridging loans are ideal for anyone looking to bridge the gap when purchasing residential or commercial property in Limerick. We ask that you have a clear exit strategy and a suitable asset to secure the bridging finance against to consider your application.
ridging loans can be used for various purchases, including commercial property development projects, ranging from modest to multi-million-pound investments. These loans provide a quick solution for purchasing properties and allow borrowers time to secure long-term financing. For developers seeking to acquire uninhabitable properties that do not meet the requirements of traditional mortgages, bridging loans offer an excellent alternative.
Novellus provides unregulated bridging loans ranging from €500,000 to €5,000,000+ with loan-to-value ratios that typically range from 50% to 70%. However, Novellus may consider LTVs of up to 90% in certain situations.
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.