Businesses operating within the private care sector can be particularly vulnerable to occasional financial shortfalls. Likewise, attractive investment opportunities often arise for established business owners and developers, though they may be time-critical in nature.
At bridgingloans.co.uk, we provide an extensive range of flexible and affordable financial solutions for new and established care sector businesses.
Our bridging loans for care homes can be used for the following purposes:
- Purchasing a care home as an investment.
- Expanding an existing property portfolio.
- Renovating and refurbishing a care property.
- Extending or improving a care home.
- Purchasing low-cost properties at auction.
- Buying and renovating uninhabitable properties.
- Upgrading existing equipment and installations.
- Purchasing vehicles and specialist machinery.
Perhaps the most important feature of a care home bridging loan is the possibility to access the funds you need in a matter of days rather than the usual weeks or months.
What is a care home bridging loan?
Bridging loans are strictly short-term alternatives to conventional property loans and mortgages, designed to be repaid within 1 to 18 months of the loan being granted. With monthly rates of interest starting from 0.55%, a care home bridging loan can also be much more affordable than a typical mortgage.
Major features and benefits of our care home bridging loans include the following:
- Borrow against numerous assets.
- No proof of income is required.
- Poor credit applicants are welcome.
- 1st, 2nd, and 3rd charge loans are available.
- Interest rates starting from 0.55% per month.
- LTV of up to 100% (with additional security).
- Various assets are acceptable as security.
- Minimum loan size £25,000.