Using Bridging Finance for Equity Release
At Onate, we provide bridging finance for various purposes such as debt settlements, property purchase or transition finance. Another common request is for an equity release facility. This is where a borrower already owns a residential or mixed-use property that is either unencumbered (no debt) or with only a small loan attached. In these circumstances, Onate can help the borrower to access the equity locked up in the property through a bridging loan.
Once released, these funds can be used for a number of purposes. A recent example saw a client invest in their business, as a working capital type facility for a specific project. Another borrower used an equity release loan to finish off works on a refurbishment project.
Another recent equity release loan meant completing works on an existing residential development. In a separate case, the borrower used the loan to fund a debt settlement on a different property. They couldn't use the debt settlement property as security due to title issues.
Equity release is often not the sole reason that a borrower comes to Onate. In many instances, a borrower may have already been engaging with our team before an equity release becomes part of their requirement. In all cases, we’re prepared for the various aspects of potential deals that come our way.
Our clients see real advantages to equity release finance. Often it’s not a source of finance that they would have considered before or even realised it was a viable option. Like other lending opportunities, we can look at proposals that traditional banks shy away from. Once the borrower has the title deeds to the property, Onate’s speed of execution comes into play. Borrowers can secure the required loan within 2-3 weeks, or in some cases, just days.
At Onate, our offering is structured to allow borrowers to quickly and easily release equity from their residential and commercial properties. Our team of experienced, specialist property lenders offer bespoke property bridging loans of up to two million euro to home builders, developers, property investors and entrepreneurs. We are fast and flexible, and we assess each case on its merits. All decisions are taken in-house which means we can move quickly and with certainty. We have an appetite to lend in all locations nationally – from cities and large towns to small villages and rural locations.
If you have any further queries or to see how our lending process works, visit www.onate.com
Read more about the many uses of bridging finance such as debt settlements and transition finance on our blog.
