There are many reasons why borrowers have used Willows for bridging finance –
Your customers problems are solved quickly
Speed of turnaround is the biggest deciding factor in customers turning to bridging finance. Getting an instant lending decision and completion within days gives people the chance to move quickly.
The fact that there are no credit scoring techniques used for some our loans gives us the ability to look outside the box with a common sense approach, and we have been able to help customers who were turned down by their banks, for no apparent good reason.
More opportunities to buy under market value
Customers can take advantage of individual properties or property portfolios at prices below market value, as a result of distressed vendors needing to sell quickly. Most banks will only lend based on the lower of the OMV and PP, making it compulsory for the client to pay a 25-30% deposit. Willows Finance can take the OMV into consideration in these circumstances, and lend up to 85% of the PP (sometimes even more). The result is that reduced deposits means clients can purchase a greater number of properties for a given budget.
Greater support for properties needing refurbishment
There are many properties which need gutting or refurbishing before banks will offer finance secured on them. Willows Finance can help with the purchase of a restoration project and at the same time offer a percentage of the refurbishment costs.
A better way to raise money – by way of a second charge
With bank base rates at an all time low, re-mortgaging isn’t always in the client’s best interest. With a second charge bridge, which can be used for any business purpose, a client is able to leave their senior debt at the low rate and raise the additional amount needed by way of a second charge which we can write from 1 month to 3 years. This offers ultimate flexibility for the borrower.
Lending to corporate entities
We are able to lend to Limited & Offshore Limited companies, SPV’s, Trusts and LLP’s, which can be a very tax efficient way of buying properties. This is rapidly becoming a more viable option for clients wanting to add to their portfolio.
Reasons why brokers have used Willows Finance over our competitors
- We can offer the largest loans in bridging finance – up to £25m+
- The cheapest rates in the industry – from 0.65% per month
- You earn 60% of the net profit of every completed bridge
- Massive appetite to lend – no funding restrictions like most lenders
- Common sense approach – offering “reasons to lend” not “reasons not to”
- Most innovative product range – we don’t just offer 1-12 month terms, as the exit isn’t always viable in these time frames. A 2-3 year product makes a lot more sense for those wanting a medium term solution.
- Save time with instant decisions and quick completions – we always make a quick assessment of whether or not a new case is the right application for us, and where we can agree the application, we’ll quickly get it to completion as quickly as we need to. If it’s not right for us, we always provide an honest explanation of the reasons why we can’t help – we will never waste your time.