February 18, 2019
It’s not unusual for property professionals of all types to find themselves in emergency situations requiring a quick financial fix. Likewise, when a promising opportunity appears suddenly on the market, it can be extremely useful to have a short-term funding option at hand to enable you to make the most of it.
But do you know your bridging loan from your second charge mortgage? Can development finance cover a sudden shortfall? And what could possibly go wrong if you’re relying on a ‘common-or-garden’ business overdraft? Here, we’ll go over the pros and cons of the various short-term finance options open to property developers and investors. At the end of it, you should have a clearer idea of the type of funding that will best meet your needs.
Construction and refurbishment snags are a fact of life; third parties can let you down, and delays in releasing cash from elsewhere can put your immediate project plans at risk.
Here are some common scenarios where short-term finance is required:
When these types of cash issues arise, the quicker you can resolve them, the less chance there is of any further delays or complications. With this in mind, here are the options you might want to consider...
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West One Loan Ltd is authorised and regulated by the Financial Conduct Authority.
Firm Reference Number: 510024
West One Secured Loans Ltd is authorised and regulated by the Financial Conduct Authority.
Firm Reference Number: 776026.
Certain types of loans are not regulated, for example loans for business purposes or certain buy-to-lets.
West One Secured Loans Limited is a member of the Finance and Leasing Association (FLA).
The FLA Lending Code can be found at www.fla.org.uk.
West One Loan Ltd is registered with the Information Commissioners Office.
Registration Number: Z2651210.
West One Secured Loan Ltd is registered with the Information Commissioners Office.
Registration Number: ZA208381.
West One Development Finance Ltd is registered with the Information Commissioners Office.
Registration Number: ZA362893.
West One Loan Ltd is registered in England and Wales.
Company Number: 05385677.
West One Secured Loans Ltd is registered in England and Wales.
Company Number: 09425230.
West One Development Finance Ltd is registered in England and Wales.
Company Number: 11242570.
Registered Office Address for these companies: 3rd Floor, Premiere House, Elstree Way, Borehamwood, Hertfordshire. WD6 1JH
THIS IS FOR PROFESSIONAL INTERMEDIARY USE ONLY AND MUST NOT BE SHOWN OR DISTRIBUTED TO POTENTIAL CUSTOMERS