News

We are in Q4 and the sense of urgency to complete deals across commercial finance, specialist property, refurbishment or bridging facilities is certainly ramping up. If you want to complete on a new purchase or have a refinance needed to complete before the end of the year, this is still doable but:

There is no time to waste if you need to get this in place.

Some term lenders are still able to complete this year, but many will now be pushed into 2025 especially given the extended timescales the majority now work to. Short-term finance or bridging loans offer a solution that is appealing to many clients, not willing or sometimes able to wait for the term loan to transact. Competitive bridging loans don’t always go hand in hand with instant access however, the expert team at Omega always reminds our clients, the earlier you engage with us within the process, the wider range of lenders are available to meet your specific timescales.

To access the best deals for your client, we urge the brokers, IFAs and introducing partners we work with to speak with the Omega team to benefit from our expert and honest feedback on terms available in addition to realistic timeframes to complete.

The good news? There’s still time.

Regulated bridging

We continue to see significant demand for regulated bridging finance due to the flexibility it provides clients. This solution works very well for clients across a number of requirements, the most pertinent example for those wanting to acquire a new property but do not want to wait for the sale of their existing one. It’s the perfect solution for anyone who wants to be in their new home by Christmas and doesn’t want to be impacted by potential delays in a sale. This can be a particularly helpful solution if the client is downsizing or retiring. Older clients often can’t access standard regulated mortgages but lenders we work with are able to structure loans using one or multiple properties meaning no delays to our clients’ plans.

Bridging financing and short-term loans can also be helpful for younger buyers who have found a unique home but are in danger of missing out on the property by waiting on a changeable and unpredictable market. To ensure they can buy their dream home and don’t have to wait for the sale of their existing property, a bridging loan can give them the freedom to go ahead and snap it up without waiting.

Please note these aren’t always suitable for all clients and circumstances, we will of course work hand in hand with our partners to ensure appropriate advice is provided and agreements only entered into where suitable for that individual.

Bridging loans and Short-term Finance – what’s the difference?

In all honesty, there isn’t much difference, it can often be easier to understand bridging loans in respect of the word itself – it bridges a gap from one financial arrangement to another. Whilst this had its roots in residential property purchases, this kind of finance arrangement has evolved particularly in recent years. Commercial and wider property bridging finance offers property investors and businesses a way to access funds quickly should clients want to embark on a new venture or scheme and are being held back by transactions or projects that might have overrun. Many more clients are finding the ever expanding range of products available within this sector vital in support of ensuring their plans can be enacted, works undertaken, refurbishments completed, development loans exited and many, many more.

Positive market outlook? Uncertainty within the property market? I just need to get on…

Our expectations on how quickly properties will sell and how fast finance deals will be approved have certainly changed over the course of the last few years. As such, the need to engage and discuss the specific finance requirements of a purchase, project or transaction is essential in ensuring all parties understand the financial options available and the time it will take to complete on any such transaction. Businesses and individuals are no longer waiting a known prescribed amount of time to transact property sales or to move forward with refurbs and conversions. This is where short-term finance deals can help property investors and business owners progress.

Simply put, if your clients want to get on with deals, developments, mixed-use or commercial projects, don’t put off speaking to us today. Those who are tempted to think agreements can’t be reached before the end of the year, we’d encourage a call with our expert team and allow you to plan ahead.

Get in touch with our team today.