News from Superbridge

excellence in commercial property finance

MARKET REVIEW BY DAVID GAMMOND

LET’S BE CREATIVE

“We are living in strange times” was the first line of my last market review. Trying not to sound like a tabloid headline I should of said that we are living in extremely strange times!

Applications are at unprecedented levels. I put this down to continued difficultly in the raising of bank finance and to the launch our Rapide Initial Facility. However, at the same time bridging lenders are seeing applications up surveyors are down valuing properties sometimes below applicant’s expectations and exit routes are difficult.

When faced with the problem at Superbridge we try to always make an offer of funding. We have found that by working with the applicant creative ways of funding a property can sometimes be found. For example when faced with a lower value vendors will sometimes reduce their asking price. Sometimes supplementary property can be found in order to provide additional security. The secret is to look at an application from all directions and try to find a way to do the deal despite the problems.

Whilst the market is so tough creativity is the answer. Fortunately creativity is one thing that bridging lenders tend to be good at.

David Gammond is managing director of the Superbridge Group.

RAPIDE INITIAL FACILITY

Rapide Initial Facility is our best ever selling product. For larger loans we have increased the initial facility to £15,000 in order to help clients fund their application.

At the time of writing this we are able to meet the applicant on site within 48 hours of them making contact to sign the initial facility.

Loans above £2 million will now be considered.

Rapide offers applicants a way of applying for a bridging loan without the initial cash outlay. Loans from £100,000 up to around £2 million are available through this new product. Any mainland based commercial property will be considered as security. Applicants with a sub-prime credit profile are very welcome to apply.

NEWS and views from the market leader in short term commercial finance

PERMANENT FINANCE

Our structured finance division has been relaunched as Permanent Finance. This new company will handle enquiries which involve loans over £10 million and those which require more than just property finance. Often companies might need to raise more funding than a property loan will allow. The team at Permanent can arrange all sorts of additional funding such as factoring, stock finance and leasing.

Permanent will also work with our off-shore fund through which we can now offer property and property related finance throughout Europe.

Loans are available in most European countries except France and Italy. Properties in ex eastern block states will also be considered. Talk to our team for more news on this international facility.

Permanent will work directly with clients and in co-operation with introducers. Offers of finance can be prepared within days with completions in two to three weeks. Where time is of the essence a fast track service is also available.

DEBT COLLECTION

Superbridge is about to launch a debt collection agency. Some of our clients have problems collecting in their sale ledger balances. In order to assist we are working on the creation of a nation wide debt collection agency. We have a number of solutions available, one of which is quite unique.

Once the infrastructure and licences are in place we will make an announcement on this website. Check back soon for more details.