Bridging loan alternative

[Biodun Sean Onipede]

Hi, I have been lurking around here for a little while. As the title says I am looking for an alternative, ie cheaper alternative to bridging loans.

I am an old builder but new property developer with enough equity (cash) to fund one property. I am on my third property. I go to auctions, buy, refurb and sell properties.

However when I finish a property, I am sat at home for months waiting to sell the property when I could be working on next property.

I could get a bridging loans on the current and future properties but would like a cheaper, more flexible solution.

Heard Natwest bank would take a view and I am waiting for them to call me back but thought I would fire a post here as well.

 

[diyhelp]

What is the alternative? Some kind of large flexible property development loan where you only get charged when you use it?

 

[Biodun Sean Onipede]

well, that is what I am asking, any alternatives anyone can suggest please.

 

[Longterminvestor]

A flexible mortgage would seem the best way for me - as long as there was security against the loan the bank would be happy. You would be able to pay in and take out of this arrangement when required, surely this would be the best alternative?

 

[FWL]

Do you have any other assets you could use as collateral for a long term flexible loan?

 

[Gareth Bain]

Hi Bioden,

Have you considered crowdfunding?

Did you know that you don't need to tie your cash up in a property? You can partner with crowdfunding companies to help free up your cash so that you can be out building.

We can help with Bridge, Mezz and Equity funding for your property (depending on the size). We are FCA regulated and have a database of HNW investors looking to invest money into property development.

If you would like to find out more about how we can potentially work together, please visit our website www.shojin.co.uk

Hopefully speak soon.

 

[John Wilson]

Crowd funding is surely an option but what about joint ventures?

I’ve written about this on my site and I’d link to it but I’m not able to post links yet. It’s Property Investment Blueprint if you can be hassled Googling it!


Sent from my iPhone using Property Forum mobile app

 

[Longterminvestor]

Crowd funding would be my first port of call in your situation - miss out the middle man and get yourself a better rate.

 

[Longterminvestor]

I think crowd funding is one of the most flexible forms of finance that I have come across. Cutting out the middle man makes things so much easier and quicker.