BRIDGING LOANS

Buy-TO-LET

Never miss out on Buy-to-Let opportunities with our fast and flexible Bridging Loan products

As a trusted independent lender, we use our own capital so can make faster decisions and be more flexible than many other lenders. We also have some of the best bridging loan options on the market exclusive to us. Our approach means if you have an opportunity that’s financially viable – we have the funding to support you with it.

SEE HOW OUR LOANS COMPARE

We underwrite on a case by case basis with no restriction on criteria. We are a ‘common sense’ lender and can make swift decisions, making the whole loan process very simple for the borrower.

Call 0208 191 2891 or apply online for a fast loan quote.

The Benefits

Why choose Novellus for Bridging Finance

At Novellus, you’ll find a lending partner in whom you can trust, with a swift and professional service and unrivalled flexibility on rates. We look to provide a viable funding solution that works for all.

SUITABILITY

BUY-TO-LET LOANS

Buy-to-let property has been an established option for property investors for many years. However, getting finance to purchase these types of properties can be challenging, as the criteria for buy-to-let mortgages can be quite comprehensive.

Mortgage lenders will only lend to investors who can afford to take the risk on of buy-to-let investments. This includes being able to cover the costs of the mortgage during a tenant-free period. Lenders require borrowers to be earning over a certain salary and have an excellent credit record without being over-stretched on other borrowings.

Raising deposits for buy-to-let mortgages can be a challenge for a borrower. Novellus can be flexible in taking into consideration the specific circumstances around the asset and borrower when issuing terms. Due to the strict guidelines, a buy-to-let mortgage can take a long time to be approved, which is one of the reasons property investors turn to a bridging loan for buy-to-let properties in the first instance.

The borrower can pay off the loan at any time within that period without incurring any early repayment fees (save for the interest payable during the repayment notification period).

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 IS A BUY-TO-LET LOAN?

A buy-to-let loan is another term for a bridging loan that will be specifically used to buy a property to rent out. Investors can buy any rental property with a buy-to-let loan, including residential and commercial. This type of funding is a short-term option that helps bridge the gap while organising long term finance.

WHY CHOOSE A BUY-TO-LET LOAN?

The buy-to-let market is very competitive and when property investors spot a good deal, they are always looking to make a quick purchase, as they may risk losing out to someone else. Buy-to-let loans are usually approved within a short timescale allowing property developers access to funds for purchases quickly.

Properties that could be viable as a buy-to-let often come available through auctions, although they may require extensive refurbishment before being rented out (often falling outside of many lenders criteria). Bridging loans can be used when buying properties at auction which are presently not habitable. Unlike most traditional mortgage lenders, the application process for bridging loans does not typically discount uninhabitable properties.

If investors are struggling to raise funds, using a bridging loan for buy-to-let deposits ensures that the borrower does not miss out on any good deals, whilst also providing a greater time frame to secure long-term finance.

Novellus offers a stress-free application process.
For more information simply call us today on 0208 191 2891 or complete our form for a fast call-back.

Request your no-obligation bridging loan quote today to see why were so highly rated.