With years of knowledge in Commercial Property and Residential Conveyancing, Ackroyd Legal is proud to serve clients and provide world-class top service around various areas of Law.
Our Bridging Loan solutions will provide our clients with the short-term finance they require to rapidly conclude a purchase.
We can offer Regulated Bridging Finance to customers who wish to utilise their property as a safety measure to raise funds. Bridging finance can be gathered from a variety of financial businesses, including some high street lenders, and can be used for both commercial and residential property transactions.
Ackroyd Legal is a large firm offering a full range of legal services, which will help and support you in any aspects, these being individual or corporate, including commercial property and residential conveyancing.
1. A ‘closed’ bridge:
This is a bridging loan where there is a guaranteed exit in place because long term funding has already been arranged. However, because property sales and mortgages can fall through at the last minute, these are far less common.
2. An ‘open’ bridge:
This loan is utilised when the lender does not have a set departure date since long-term financing is not available. They are typically valid for six to nine months, but can be extended in exceptional instances.
Generally, bridging loans are intended for landlords, property developers and investors including those who desire to acquire at auction, or when a mortgage is required quickly. They may also be made available to wealthy or asset-rich customers seeking simple loans on residential properties. Bridging financing has recently been popular in the market among both new and existing businesses. It appears to be a faster route to obtaining credit at attractive rates.
Ackroyd Legal is a trading style/name of Ackroyd Legal (London) LLP , which is authorised and regulated by the Solicitors Regulation Authority, SRA No. 554585 and is a LLP registered in England & Wales, Company No. OC360125; VAT no. 445717436;
And of Ackroyd Legal Limited which is authorised and regulated by the Solicitors Regulation Authority, SRA No. 639272 and Company No. 10784410.