Commercial Commercial and Bridging Finance

What is bridging in finance?


A bridging loan is a short-term loan used to help you 'bridge the gap' when you want to buy something, but you're waiting for funds to become available from the sale of something else.


They are typically used by businesses in need of short-term funding. As the name suggests, bridging loans can help “bridge” a gap in a business' finances rather than be a permanent financial solution, such as the gap between a payment being due and another source of funding available to make that payment.


Do you pay a bridging loan monthly?


A bridging loan lasts for an agreed term – typically 12 months – and you'll repay whatever you've borrowed in a lump sum, as soon as you're able to. As with all loans, you'll be charged interest each month.

What is a commercial mortgage?
 
Commercial mortgages are used to buy business premises or to buy an existing business in its entirety.

Lenders generally require a deposit of around 25%-40% of the total value and mortgage terms can run for one year, up to 30 years. Obtaining a commercial mortgage is based on the ability of your business to make the repayments. You will also find that lenders will assess your business before quoting you an interest rate.  
 
They generally look at past performance, the current position and long term future plans of the business. The interest rate you will be quoted may be based on these factors and may be higher if the underwriter identifies higher risk in the proposal. You may need to provide a detailed business plan which demonstrates that you can make repayments, and a professional valuation will usually be required.

Our brokers are independent, whole of market, commercial finance specialists. Their team of former bank managers have a wealth of commercial lending experience and are able to structure lending propositions in order to obtain bank approvals at best terms.

Purchasing a business or commercial property is traditionally speaking, not so easy. Generally commercial lending can be a complicated, time consuming exercise. We make obtaining a business mortgage or commercial mortgage easy, trouble free and surprisingly fast.
                                               
Our dedicated team of professional commercial mortgage advisors will guide you through the process. We have comprehensive panel of lenders incorporation high street banks. We will not mislead you, our advisors will give you quote based on the information you provide and to best suit your circumstances. 

Your property may be at risk if you do not keep up repayments on any debt secured against it.


We may receive commissions that will vary depending on the lender, product or other permissible factors. The nature of any commission model will be confirmed to you before you proceed.


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Mortgages

Have you found a property you are interested in buying? Are you in need of cash to buy your property? Or does your house need a rennovation or an extension? Finding the right mortgage package can be difficult and stressful. At Essence Finance, let us use our expertise and experience to help you to find a deal that is right for you and your new property. Let's help you secure the property soon than later.
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Secured Loans

Are you in need of cash? Does your house need a rennovation or an extension? Secured loan can help you have extra cash to support you for your needs. At Essence Finance, we can help you to find a deal that is right for you.




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Insurance

Are your belonging covered? Are permanent fixtures such as roof, walls and other building structures protected in your home?  As a landard, is your premises insured should it become inhabitable due to dangerous events like a fire? Find your plan now through us as we work with different providers giving you the best deal possible.

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