Bridging Loans
We know that when it comes to property, it is hard to time things perfectly!
Killarney Capital can provide bridging loans to enable you to pounce on an opportunity to buy a property or meet an upcoming settlement deadline, pending the sale of another property or business asset.
We can consider closed, open and residual stock bridging loans.
Closed
A closed bridging loan is where you require funds to settle a property purchase and have a clear confirmed pathway to repay the loan – usually in the form of an unconditional sale of an existing property you own. These types of bridging loans are typically lower risk, allowing us to fund a higher loan-to-value ratio. They may also be very short-term in nature, meaning that a higher proportionate fee may apply versus the interest rate.
Open
An open bridging loan has an unconfirmed or less certain pathway to repayment. This may be where you need funds to settle a property purchase but have not yet put your existing property on the market or achieved a sale. Because there is less certainty around the amount and timing of repayment, there is a higher risk associated with open bridging loans.
Bridging loans are typically short-term – up to 12-months – and fully drawn at the outset.
Depending on factors including the loan-to-value ratio, we may be able to capitalise interest throughout the bridging term.
lending guidelines
Is your project ready for the next stage?
Check our handy FAQs and understand everything you need to complete your application quickly and easily. There’s a few requirements, but we make it easy at every step of the process.