RESIDENTIAL BRIDGING
We provide bridging finance for developer exits and for residential property acquisition. In addition, Charter HCP can provide a bridge before moving to the development stage of the project. The development stage can be funded under our Refurbishment or Ground Up product.
Charter HCP offers bridging finance for residential projects only. We can also fund schemes if there are a few final works remaining under our Finish & Exit Product.
REFURBISHMENT PRODUCT
Charter HCP funds light, medium & heavy refurbishment projects. These parameters are determined by the percentage of works compared to the day one market value. Upper limits are 25%, 25-100% and 101+% for light, medium and heavy respectively. Therefore, the product is suitable for residential conversions or commercial to residential projects. The Planning Flexibility feature applies across all refurb types.
FINISH & EXIT PRODUCT
The Finish & Exit is designed for projects which are part-complete. This means they are not eligible for a traditional developer exit because there are works remaining on the site.
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For example, the developer may have either run out of their existing development finance facility and so there are insufficient funds to complete the project or the developer was relying on sales processed to fund the project which have not come in.
ABOUT US
Mammoth Capital is a financial supplier offering bridging finance upwards of £1,000,00.
We work closely with brokers to meet their borrower client’s timescales, assisting the process whether it’s our broker’s first or fiftieth bridging loan.
Mammoth Capital's Bridging team are always looking for new ventures so please get in touch with us below or click on learn more to view some of our clients.
Our Bridging loans can be used for:
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Bridging the gap between purchase and sale
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Raising working capital
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Downsizing
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Portfolio restructuring
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Term facility repayment
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Asset purchase & / or refinance
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Key Features:
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FCA regulated and unregulated loans
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1st / 2nd and combination charges
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Residential and mixed use security property
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No upper age limit
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No ERCs after 1st month
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Interest calculated daily
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Rolled interest facility
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Valuations and legal fees at cost
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Our lending criteria:
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Minimum loan size £5m
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Maximum loan size £55m+
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Residential and mixed use security
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Land with planning considered
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Max LTV 80% MV
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Security property to be located in England, Wales or Scotland
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12 months terms available for non FCA loans
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No upper age limit
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Individual, corporate and trust borrowers
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Realistic and viable exit