{"id":5450,"date":"2022-11-03T13:30:55","date_gmt":"2022-11-03T13:30:55","guid":{"rendered":"https:\/\/blackandwhitebridging.co.uk\/?p=5450"},"modified":"2023-07-03T08:45:19","modified_gmt":"2023-07-03T08:45:19","slug":"bridging-loans-can-help-with-unmortgageable-properties","status":"publish","type":"post","link":"https:\/\/blackandwhitebridging.co.uk\/bridging-loans-can-help-with-unmortgageable-properties\/","title":{"rendered":"Unmortgageable properties?"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"5450\" class=\"elementor elementor-5450\" data-elementor-post-type=\"post\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-7c0e325 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"7c0e325\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-c2a7e95\" data-id=\"c2a7e95\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-94d4c02 elementor-widget elementor-widget-text-editor\" data-id=\"94d4c02\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><strong>Firstly, what makes a property unmortgageable?<\/strong><\/p><p>Before we delve into how bridging can help you secure these properties, let&#8217;s first define what makes a property unmortgageable. Each lender will have varying criteria but the general rule of thumb is that the following are unlikely to secure conventional long-term finance at the outset.<\/p><ul><li>Properties that are derelict or where part of the building is in severe disrepair\/needs demolishing.<\/li><li>Properties without a kitchen or bathroom.<\/li><li>Properties with structural defects such as damp, dry or wet rot.<\/li><li>Properties close to mining works, areas of landfill, areas of recent flooding or subsidence.<\/li><li>Properties of non-standard construction. Standard construction has brick or stone walls with a roof made of slate or tile, so anything that differs from this will be classed as Non-Standard.<\/li><li>Where there are boundary disputes or where planning applications have not been applied for correctly.<\/li><li>Leasehold properties with a short lease, typically less than 70 years, or a defective lease.<\/li><li>Some properties with sitting tenants or regulated tenancies.<\/li><li>All properties with a value below a threshold, sometimes stated as \u00a340,000.<\/li><\/ul><p>\u00a0<\/p><p><strong>So where does bridging finance come in?\u00a0<\/strong><\/p><p>These properties can however make attractive investment opportunities for property professionals even if they are passed over by mainstream lenders. Whilst it may be difficult to raise the funds in a conventional sense, bridging loans can be the resource that turns negative results into positive ones for you and your clients.<\/p><p>\u00a0<\/p><p><strong>How bridging can help fund these projects.<\/strong><strong>\u00a0<\/strong><\/p><p>Bridging loans are a form of short-term finance with a term typically between 3-12 months that are designed to deliver capital quickly to complete property transactions. As long as the planned investment makes sense, and the borrower has a suitable exit in mind, a deal can usually be done!<\/p><ul><li>Bridging loans can be completed fast, sometimes as quickly as 7 days!<\/li><li>Bridging loans can be secured against more than one property, allowing the borrower&#8217;s existing assets to be taken into account.\u00a0<\/li><li>Bridging loans can fund up to 100% of the property purchase price, depending on the estimated loan to the gross development value.<\/li><\/ul><p>\u00a0<\/p><p><strong>How do you apply for a bridging loan?<\/strong><\/p><p>Bridging loans are usually applied for by using a financial intermediary such as a property finance broker. These brokers help guide borrowers through the process of application and will help the borrower understand the costs\/risks involved.<\/p><p>Black &amp; White is such a lender. Meaning we work with intermediaries to provide borrowers with the funds they require. Our mission is to provide truly transparent lending, with no grey areas.<\/p><p>If you&#8217;re an intermediary and would like to learn more about how we can work together or would like information on our products, then please get in touch with our team at enquiries@blackandwhitebridging.co.uk<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>Firstly, what makes a property unmortgageable? Before we delve into how bridging can help you secure these properties, let&#8217;s first define what makes a property unmortgageable. Each lender will have varying criteria but the general rule of thumb is that the following are unlikely to secure conventional long-term finance at the outset. Properties that are [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":5595,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_mo_disable_npp":"","inline_featured_image":false,"episode_type":"","audio_file":"","cover_image":"","cover_image_id":"","duration":"","filesize":"","date_recorded":"","explicit":"","block":"","filesize_raw":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[11],"tags":[],"class_list":["post-5450","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"acf":[],"jetpack_featured_media_url":"https:\/\/blackandwhitebridging.co.uk\/wp-content\/uploads\/2022\/11\/Bridging-loans-and-unmortgageable.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/blackandwhitebridging.co.uk\/wp-json\/wp\/v2\/posts\/5450","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/blackandwhitebridging.co.uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blackandwhitebridging.co.uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blackandwhitebridging.co.uk\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/blackandwhitebridging.co.uk\/wp-json\/wp\/v2\/comments?post=5450"}],"version-history":[{"count":0,"href":"https:\/\/blackandwhitebridging.co.uk\/wp-json\/wp\/v2\/posts\/5450\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/blackandwhitebridging.co.uk\/wp-json\/wp\/v2\/media\/5595"}],"wp:attachment":[{"href":"https:\/\/blackandwhitebridging.co.uk\/wp-json\/wp\/v2\/media?parent=5450"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blackandwhitebridging.co.uk\/wp-json\/wp\/v2\/categories?post=5450"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blackandwhitebridging.co.uk\/wp-json\/wp\/v2\/tags?post=5450"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}