If you want to get a 1 million bridging loan for your commercial project, you have to follow the necessary steps with us, as mentioned here.
Once you approach us to get the bridging loan, we will give you a call to collect more information about your project, for which you want to finance. Based on the information we receive, we will determine the best possible package for you and that too with the help of our qualified and experienced lenders.
The decision in principle implies the gesture associated with agreeing to provide funds to the loan, provided, you give us consistent information and we confirm each possible check related to the property. To provide you the decision in principle, we need important details of our borrowers as mentioned below:
This question lets you put your project and place at every possible costing in the right place. This means, you have to value your property beforehand, while at the same time, consider other important things, which include furniture items, builders, solicitors and insurance and various others. By getting a proper idea about the required amount to borrow, you will get the right loan package.
Borrowers have to sign an online application form and for it, we need identification proofs, which include latest utility bills to verify your details. Later on, we carry out an official valuation of your property by the help of our surveyor and get a sound proof of the property valuation to confirm the available estimated price of your property.
For this, we perform a few basic checks. Some of the lenders will require checking of credits to get a proper idea about your past loans and payment and the exact amount of your outstanding debts. In addition, we perform affordability checks for determination of your income and the amount you may borrow without facing any financial difficulty. In addition, we assess the amount, which you will use as the security.
In this step, we put each of the documentation and make lenders ready to provide you the necessary funds. This leads to the quick and easy procedure for customers, so that it may fund readily. Finally, we refer to the solicitor for reviewing the procedure.
Now, a solicitor will accustom with you and help you in completion as well as exchanging on your properties.
This is the final step, where we pass your property details to our lenders for completion of the loan application.
Therefore, by following simple and easy steps, you will be able to receive 1 million bridging loans for your industrial or commercial projects.