Finance Beam

Finance Beam are bridging loan and commercial finance brokers who are not tied to any lenders and can, therefore, use all bridging providers. We are therefore able to search over 130 UK bridging loan providers to compare the facilities and deals that they have to offer. We pride ourself in finding our customers the finance they require and compare the different bridging options within the market at the time, giving our clients the best value for money.

With a wide selection of bridging options available, we are able to provide bridging loans quickly to individuals and also all types of businesses including sole traders, partnerships and limited companies. A bridging loan can be used in order to help a sale chain when purchasing property, to solve a short term cash flow problem, to facilitate the purchase of a bargain or for most other legal reasons.
The main benefits to a bridging loan are that it can be arranged quickly, lenders tend to be more flexible with regards to lending criteria and also the condition of the property being offered as security, and most importantly as a short term finance option, a bridging loan is quite often the cheapest solution.

Flexible underwriting means that bridging loans are quite often the only option that is sometimes available as a means of raising capital. In these circumstances, care should be taken because bridging loans are only intended as a short term method of finance. To take a bridging loan out without having a way of repaying it at or by the end of the agreed loan term is very unadvisable. This is because the monthly rate of interest charged on bridging loans tends to be significantly higher than alternative long term methods of finance. In addition to bridging loans, therefore, being an expensive method of finance unless just taken out for the very short term, bridging loan providers tend to want their loan repaid by the end of the agreed term.

Buying property at auction can be a risky proposition because having made a winning bid it is normally the case that a 10 per cent deposit is paid on the day with the balance to follow within 28 days. If a buyer fails to complete the purchase within the 28 days they stand to lose their deposit. This is why bridging loans are commonly used to finance auctioned property purchases. A bridging loan can be set up quickly and the flexible criteria regarding the condition of the property avoid the problems of retentions or loan refusals that can be common amongst the high street lenders. Also, many properties purchased at auction are ‘flipped’ for a quick profit, in which case bridging finance is one of the cheaper options when short term finance is required.