our services in Birmingham
We are a professional bridging loan broker in Birmingham, offering a range of professional services. Below, you will find the main services we can offer you.
- Loans up to 70% LTV
- Rates from 8.99% Pa
- Low Exit Fees
- Loans from £250,000 to £10m
If you want to buy a home in Birmingham at an auction – perhaps to renovate it or to obtain the land upon which to develop – then you might require financing in order to complete the deal. Auction loans are a specialised form of financing product that have been developed specifically for this purpose.
Auction finance is a subcategory of bridging loans that can be utilised to acquire a piece of real estate through the auction process. Because they may be handled within the 28-day completion deadline that is necessary when buying an auction property, bridging loans are the financial option of choice for the acquisition of real estate through public auction.
The way auction financing works is by providing you with a short-term loan on an interest-only basis, and most of the time, you are not required to make any monthly repayments. In most cases, applications may be processed in less than two weeks, making them an excellent choice for auction purchases. Your application has a good probability of being approved provided that you have a sufficient down payment (or are able to give another property as additional security) and a sound strategy for how you want to get out of the deal.
A bridging loan, commonly referred to as a bridge loan, is a secured loan with a short repayment duration. When purchasing a new property before selling an existing one, it is utilised to “bridge the financial gap” between the two transactions. For instance, you may utilise a bridging loan to purchase a house at an auction before you have sold the one you are currently living in. They can also be utilised as funding for the acquisition of a property with the intention of redeveloping it for the purpose of renting it out or selling it.
Bridging financing might be helpful if you need quick auction financing or are looking to buy a bungalow or another highly sought-after property. It guarantees that the only real estate-backed companies or purchasers who can close the deal before you are cash buyers, who are extremely scarce.
A bridging loan allows you to move on with a purchase while you liquidate other assets or invest the proceeds in a more permanent financing solution, like a buy-to-let mortgage. They can be used as a quick source of money while a more long-term solution is being formulated or assets are sold off.
A wonderful approach to make money or climb the property ladder is to develop property for selling, investment, or your personal residential requirements. However, developing real estate in Birmingham may be expensive, and many prospective developers lack the money to make cash payments. Fortunately, there is a solution to this issue in the form of development finance.
Loans used to cover the expenditures connected with a residential or commercial development project are referred to as “development financing.” Development finance often has a shorter lifetime than long-term mortgages on real estate, ranging from 6 to 24 months. Loans are appropriate for new construction from the ground up, conversions, or renovations of existing homes. They may be used to pay for land and cover construction expenditures.
Lenders who specialise in development finance will provide both the down payment and construction financing necessary to complete the build on a property.
When construction begins, the client is responsible for paying the initial cost of the project.
The next month, the developer will send an invoice to the bank surveyor. The bank surveyor will verify that everything is accurate, and after this is done, the bank will finance the customer. This is what it means to be in arrears. This assures that the works are done, and the development is completed and ready to be sold or refinanced when it is finished.
The value of the finished property is factored into the calculation of the loan amount in development financing, which differs from regular loans. Because of this, it is possible for investors and builders to put money into projects that would otherwise be out of their price range or beyond their grasp.
We are able to assist borrowers in gaining access to term loans that are appropriate for a broad variety of financial needs. These are loans that are returned in the form of monthly instalments over the course of a certain amount of time, which is often many years but can vary depending on the circumstances. They are offered with both fixed and variable interest rates as payment options.
It’s possible that you may benefit from obtaining a term loan for your HMO portfolio or whole blocks. We can assist you in obtaining the necessary financing in a timely manner and term loans are applicable to all asset classes.
To get you the best commercial mortgage options in Birmingham, we partner with a panel of reputable lenders.
Businesses can utilise these to purchase properties, release equity from existing properties, or invest the proceeds from the sale of assets in the expansion of their operations.
If a developer does not have the financial resources necessary to get a more traditional Development Finance loan, then they may want to explore entering into a Joint Venture.
In Birmingham and around the UK, joint venture financing is becoming more and more common. The cost of building new buildings or renovating existing ones is considerable, and financing is in great demand.
Customized solutions are frequently required, and joint ventures offer one such choice. When an investor or partner agrees to support a real estate endeavour in exchange for a cut of the earnings, this is a sort of financing.
They are best suited for seasoned developers and are perfect when you need to move a project along quickly but don’t have a lot of money available. In most cases, this entails receiving one 100 per cent of the necessary capital from an investor or partner in exchange for a portion of the profits. We have a large number of lender Joint Venture partners and investors who are willing to consider providing full finance for the appropriate project. The size of the profit share will be determined, among other things, by the individual lenders’ assessments of the level of risk involved. Additionally, interest will be accrued on the funds that were used, and it will be deducted from the total amount that was taken each month.
Why Choose Us?
If you are considering a bridging loan broker in Birmingham, why choose Hank Zarihs Associates?
Our clients choose us over and over again for several reasons. For a start, we find you the best rates. We work with a panel of respected and experienced lenders with excellent track records, so our clients can access the best rates and loan products from trusted lenders.
We also have a wide range of loan products you can access. Most bridging loans in Birmingham are not available on the open market because they are specialist products. We can get you access to a wide range of loans and deals that you would simply not find searching directly.
We are also fast and efficient, which is essential for our clients. We can help you find the right bridging loan in minutes, and we can often gather the information and quotes from lenders within the hour and arrange your bridging loan within days.
We provide tailored advice for our Birmingham clients along with transparent information. You can trust us to deliver, and you can have full confidence in the products we secure for you.
Finally, our customer service is exemplary. We focus on building long-term relationships with our clients based on providing maximum value, and we have a superb track record.
our sales process
Call us today to discuss your enquiry. We'll find out what product is suited to your needs - we just need 5 mins of your time.
Once we've received terms from our select panel of lenders, We'll inform you of the options you have and then you'll let us know which offer to proceed with.
Once you've selected the perfect lender, we'll go ahead and package the application on your behalf, making it a seamless and easy process. We'll then instruct valuation and legals on the same day.
Once the case has been submitted and the valuation report is back the case will be formally offered and funds can be made available to drawdown, subject to the legal due diligence being complete – From start to finish, we can have deals ready in as little as 7 working days.