Introducing the Re-Bridge… re-vamped!
Given the current, tougher credit climate, re-bridges have become increasingly popular with borrowers. However, they can be difficult to obtain. To support our clients and our ambition to keep passing the entrepreneurial torch, we’re pleased to launch Albatross’ Re-bridge… Re-vamped!
Re-bridges are often used by clients who have previously taken out a bridge with another lender yet failed to repay the loan. So, in order to repay the existing lender, they are left with no other choice but to take out another bridging loan (a ‘re-bridge’), allowing them to focus on exiting their loan in a conventional manner.
Such re-bridge loans can be difficult to obtain for a number of reasons. Lenders often frown upon them due to their high LTV and the fact that the borrower has failed to achieve a successful outcome initially.
Often with such products, your existing lender may offer the opportunity to extend their existing loan. Typically, this includes high extension fees and applies a higher interest rate, so this latest Albatross product offers our clients a cheaper solution, to buy them the time they need.
Supporting our clients is at the heart of everything that we do at Albatross and it is always our aim to allow you to invest and plan sustainably, which is why our Re-bridge re-vamped is now available.
Highlights of the Re-bridge re-vamped include:
- Up to 75% LTV
- Up to £1m loan amount
- No upfront cost to the borrower
- Interest rates from 0.99%
As well as boasting impressive highlights, we want to keep the process as straightforward as possible for borrowers. To do that, we’ll rely on the original valuation report, ensuring that it doesn’t need to be re-typed. We’ll also deduct legal fees in advance, meaning there are no cost undertakings required so that you can avoid costly defaults and loan extensions.*
How can I apply?
At Albatross, we are a team of finance and property specialists with our work focused on how we can support your project and continue with you on your growth journey.
To learn more about Albatross’ new Re-bridge re-vamped, speak directly to one of our decision-makers today.
Nils Raber
Associate Director
nils@albatrosslending.co.uk
0208 079 7691
*Subject to T&Cs