Over recent months, market conditions have dictated that Link Lending was only offering closed bridging finance (ie, where a contractually fixed redemption date applied). Now, the lender is once again offering open bridging loans on residential properties, suitable for cases where there is a known source of funds and timescale for redeeming the bridge, but the actual redemption date is not fixed at the outset.
John Maclean, managing director of Link Lending, commented: “We are delighted to be returning to open bridging, offering brokers far greater opportunities to find a solution for clients that need short term funding, and giving them the chance to earn commissions from arranging both the short term loan and the long term finance that will redeem the bridging loan.
“Link Lending has also recently made a major investment in web-based facilities for brokers that have combined to create the most sophisticated short-term lender website currently in the marketplace. These facilities include an online DIP; 24/7case tracking facilities; a document library; a live/online messaging service; case studies; a Q&A; and a Press Room from which recent press releases can be downloaded.
“We are confident that our return to open bridging lending, combined with this comprehensive suite of online facilities, now offers brokers unrivalled opportunities to create an additional income stream from introducing bridging loans, at a time when both the residential and commercial mortgage markets continue to be restricted.”
Link Lending’s terms include true daily interest, no minimum term, no exit fees, and flat rate legal fees.
