Is bridging finance available in Ireland?

Is bridging finance available in Ireland?

Beacon Capital is a leading arranger of commercial bridging finance in Ireland for nationwide residential and commercial development projects. Commercial bridging loans are an interim funding arrangement intended to provide short term funding until an exit strategy, like a refinancing or a sale, can be executed.

How much does a bridging loan cost Ireland?

Bridging Loan Rate In Ireland Rates for short-term loans are normally between 7-12% per annum plus fees. The lower rates are available for straight forward transactions at a low loan to value, secured on good quality property in high demand areas.

How does a bridging loan Work Ireland?

A bridging loan is typically ideal for acquisition, expansion or indeed the refurbishment or refit of an investment property. Essentially, this is a sum of money used to cover the gap between two transactions on a short term basis.

Is bridging finance a good idea?

Melanie Bien at mortgage broker Private Finance says bridging finance has its uses, but adds that if you don’t have a realistic exit strategy, such as a buyer lined up for your own property, “bridging is extremely risky and should be avoided at all costs”.

Is there an alternative to a bridging loan?

Both asset refinancing and invoice finance can be put in place quickly and can provide a cheaper alternative to bridging finance. Other alternatives include development finance, commercial loans, secured loans, commercial mortgages and asset loans.

Do banks give bridging loans?

Which banks offer bridge loans? A number of high street banks and private lenders offer bridging loans. Most of these are only available through loan brokers, as even high street banks do not normally offer bridge loans direct to the public.