Bridging loans are one of the fastest ways to secure funds to start a development project or to buy a property. Bridging loans can help in getting the funds you need in a short time from which you can reap the benefits sooner. But when you don’t have a sound financial status or a good financial history to back you up, it is difficult to get a regulated bridging loan. During such times, a non status bridging loan can be applied which will work similar to a regulated bridging loan. You can get access to the funds you need without being judged on your current financial status and purely judged based on the project or the deal that you are looking for.
Generally, the lenders would want to the see some kind of security when lending the money, which will be in terms of the financial condition of the borrower in the past. But some borrowers may have a credit issue due to late payments or may have fallen behind in their mortgage payments, or may not have a sound financial past to show. Most of such people will be new business owners who are planning to make it big or business owners who have turned to a new sector. It is also by the regulations of the FCA to perform sustainability assessments regarding the repayment of the loans before the loan is approved and such people may not be able to cross over these assessments.
In order to help them out, we offer non status bridging loans wherein they can get a loan based on the assessment of the property they currently reside or the property they are going to buy with the loan, according to the FCA. When you consider non status bridging loans, we won’t be considering the credit history or the valuation of the borrower’s current financial condition. Instead, the borrower will be judged based on the strength of the deal without the influence of the external financial status.
At Finanta, we have helped thousands of new business owners to get a good start with the help of non status bridging loans. Many people have successfully completed their first project with our non status bridging loans and have grown to become major business persons and we would love to help you out in the same way.
We understand the credit problems and the financial difficulty you are in. We will listen to your current financial problems and see how good the project that you are planning is and help you secure the necessary funds to kickstart it.
You can get in touch with any of our specialists to get the processing going. We have fast loan processes without wasting time on any unnecessary paperwork and skip to just the essential parts to let you have your funds as soon as possible.
Give us a call now to know more about the loan criteria and get all your doubts clarified.
All FCA regulated applications are processed via our sister company, Redrock Commercial Finance Ltd. Redrock Commercial Finance Ltd is authorised and regulated by the Financial Conduct Authority number 742764. You can check this on the Financial Services Register by visiting the FCA's website www.fca.org.uk/register or by contacting the FCA on 0800 111 6768.