BRIDGING FINANCE ESSEX

Dependable Bridging Finance that gets closer to your business needs

Sitting between London and the eastern coast, Essex is a county of gentle beauty that attracts jaded city dwellers to the delights of the countryside, without being too far from the bright lights. With good road links and public transport, Essex has a strong commuter population, leading to high demand for property

There is always an interest in development and properties in Essex, attracting businesses and individuals looking to invest in the Essex property market. Novellus’ bridging loans are a speedy funding option for investors looking to capitalise within this affluent area.

Bridging Explained

What Is A Bridging Loan?

Bridging loans are short-term finance options. Novellus Limited will assist in making an application for a loan a straightforward and swift process. This makes Novellus Limited an ideal source for those who require funds quickly.

To secure a loan, the borrower must provide suitable property assets as security. The repayment term for a bridging loan is usually between 6-12 months, but if circumstances dictate, this can be shorter. The borrower must have a clear exit plan in place, such as refinancing or selling the asset.

London is an attractive location for property development and investment. Contact Novellus Limited about our top finance solutions, ideal for property developers and investors looking for investment opportunities in Essex.

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, we 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 our project. They have a good range of products and very good levels of customer service. We look forward to working with them again in the future."

WHAT CAN BRIDGING LOANS BE USED FOR?

There is a range of uses for bridging loans, including (but not limited to):

BUY-TO-LET

A FASTER OPTION FOR Property investORS

With its proximity to London, Essex has always been a great place to rent. This is exciting news for would-be landlords looking to purchase property to rent out. However, the criteria for buy-to-let mortgages can be extensive, so going through the approval process can be lengthy. A much faster alternative is a bridging loan, which allows landlords to capitalise on potential deals.

Property renovations

Properties that don't qualify for a mortgage

If a property is deemed to be uninhabitable high street lenders will not approve a mortgage. However, in order to do the necessary renovations to make it habitable funding is usually required. This can be achieved via a bridging loan, which gives the purchaser time to refurb it before applying for long term finance. Novellus can help individuals looking for investment properties, secure this funding.

Land purchases

Bridging for opportunities with land

Land can be challenging to raise funding against, particularly if it does not have planning permission, which is why a bridging loan could be a viable option.

Not only is it a quick funding option but Novellus will consider land with or without planning approval in place.

Get some great insights from one of our commercial finance specialists, call us on 0203 397 4871 or apply online

Suitability

WHO ARE BRIDGING LOANS SUITABLE FOR?

Novellus Limited has no external credit committee which means the approval process is faster, allowing for quicker decisions than most of our competitors in Essex can provide.

We provide a service for those who might not be able to secure traditional funding from High Street Banks.

Some forms of lending can take several months to process an application from start to finish, whereas at Novellus Limited the timescales are quick for both the approval and the application process.

Borrowers include those with an interest in:

Commercial Investment Property

Light or heavy refurbishment to Investment Property

Site acquisition and Land Purchase

Auction Funding

Refinancing from an existing Bank or Alternative Lender

Portfolio Building

Development Schemes

Novellus Limited only provide unregulated bridging finance loans, ranging from £500,000 with no upper limit and we consider each application on its own merits.

To find out what the costs of a bridging finance loan could be, use our loan calculator for guidance.

The Benefits

Why choose Novellus for Bridging Finance

Funding is underwritten on a case by case basis, which means quick decisions and a swift, easy process
Normal loan term is generally between 6-12 months
Early repayments can be made without incurring any early repayment fees (save for the interest payable during the repayment notification period)
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 on a case-by-case basis.

We offer a stress-free application process.

For more information give us a call on +44 (0) 203 397 4871 or fill out our form below.