As one of the top 20 fastest-growing cities in the UK, Ipswich is an ideal place to invest in property. With the town currently experiencing year-on-year economic growth – in addition to a gradual rise in population as employment opportunities continue to expand – buying and developing in this up-and-coming area could prove to be a brilliant investment opportunity.
Nevertheless, it is not always easy to purchase the property we want, when we want it. For instance, certain properties cannot be mortgaged, whilst others sold at auction require quick financial turnaround.
A Glide bridging loan could help with this. This short-term, fast finance option will literally “bridge” the monetary gap between purchasing a property and securing more permanent funds, for example, through the sale of a previous renovation or acquiring a traditional mortgage.
Bridging loans can be used for a variety of reasons, such as dealing with chain breaks, providing financial support for the renovation of uninhabitable properties, and allowing property professionals the ability to ensure that they have all the necessary amenities for commercial use. Bridging loans can also be used to refinance a property, in addition to funding changes of use.
Time is of the essence when developing property, with tight turnarounds and financial obligations pending. It takes just five minutes to apply for a Glide bridging loan and you will receive a response that same day.
Glide bridging loans are designed to help property investors and developers to purchase commercial properties in the Ipswich area.
As the main town in Suffolk, Ipswich is the ideal place to invest. Moreover, with average house prices rising by almost 14% over the past year, you can be confident that your purchase will be profitable in the near future, even during unstable economic times.
If you’re ready to start developing properties in Ipswich but need financial assistance to get things off the ground, consider applying for a Glide bridging loan. With our help, you can make your property development plans a reality even when faced with a limited cashflow and tight deadlines. The process is hassle-free and it’s free to apply, giving you the freedom to continue developing, even when you have other financial obligations to meet.
Although they can be used across a variety of sectors, bridging loans are particularly popular in the property development industry, since they provide the support needed to fund developments in the short-term, before cashflow from sales or return on investments has become fully available.
Purchasing properties at auction
When you bid on a property at auction, you only have 28 days to complete your purchase. As such, you will need fast access to funds. This can prove difficult if you are unable to mortgage the property (for example, if it lacks the amenities required for a mortgage to be considered) or if you are waiting for funds from a previous development project to come through.
Applying for a Glide bridging loan ensures the required funds are always available, giving you the confidence to move forwards with your plans.
Many developers choose to increase the amount outstanding on their mortgage, to give them additional funds to improve or renovate their property.
They might also choose to use the additional funding as a deposit against a further home. A Glide bridging loan makes these additional funds immediately available in the event of cash flow delays.
Dealing with chain breaks
Property sales are often complex, with one party reliant on the other to ensure their own purchase can go through.
When you’ve already found a property you want to develop, you don’t want to be waiting for the sale of one of your previous properties to complete before you make a purchase, especially when deadlines for finalising are tight and people may drop out at the last minute, leaving you out of pocket.
That’s where a Glide bridging loan comes in.
Changing the intended use of a property
There’s a lot to do when converting residential property for commercial use, or vice versa. Applying for planning permission can prove particularly costly and tends to be a lengthy process.
This is in addition to ensuring you meet building regulations and any trade services you will need to contract to adapt the premises.
A Glide bridging loan can help you to meet these upfront costs, before you begin to turn a profit.
Developing uninhabitable property for business purposes
When a property is deemed uninhabitable by mortgage lenders, it can be difficult to purchase.
In addition to requiring your own funds to cover the upfront cost of the building, you’ll need to pay for costly repairs, such as ensuring the building is watertight and has a functional bathroom and kitchen.
Most mortgage lenders will also require electricals and a reasonable level of security. You could use a Glide bridging loan to meet these costs before you are able to mortgage your renovation or start making a profit through commercial use.
Improving property that’s in poor condition
As mentioned, properties in poor condition are difficult to mortgage.
However, if you know how to improve them, purchasing these buildings can be a wise investment.
A Glide bridging loan will give you the capital flow you need in the short term to be able to renovate and upgrade a disused building, turning it into a functional, serviceable and habitable place.
Upgrading properties to include the necessary amenities
When you purchase property without amenities such as kitchen and bathroom space, it cannot be mortgaged. However, upgrading the building to include these facilities means that you will be able to mortgage it later on. A Glide bridging loan can therefore help you to make the initial purchase and pay the renovation costs, which you can later recover when you mortgage.
At Glide, we like to be different. We think everyone should achieve their property goals, so we like to open our services to the less ‘typical’ candidates. If you’ve previously been denied bridging finance, try Glide. We pride ourselves on offering fair funding for everyone.
If you’re a developer or investor in Ipswich looking for financial bridging, Glide can help you out.
At Glide, we know that each and every property developer has their own story. It’s not always possible to get finance from traditional lenders. We don’t have an ideal borrower in mind and we’re able to carry you forward no matter what your background.
We offer fee-free bridging loans in Ipswich and the surrounding areas. Our applications take just five minutes to complete and you’ll be instantly put in contact with one of our decision makers. Here are some of the benefits of applying with us:
Glide bridging loans are designed to support you – the borrower – no matter what your individual circumstances. We believe in inclusive lending, enabling us to support unconventional borrowers with their property development projects.
We’re confident in our offering and believe it’s the best short-term finance option in the Ipswich area. Our bridging loans:
Our bridging loans can be
taken out for a period of
up to 12 months
We offer funding of
£50,000 - £20million
We’re fee free! No
hidden fees, no sneaky
Interest rates from 0.85%
We consider each
application based on
We do not have an
Our application process is incredibly simple and easy. You can apply online in less than 5 minutes and have your decision in principle the same day.
Our process is entirely paper free and can be managed online in our helpful portal.
Unlike other lenders, we won’t request your credit history or employment history, we make our decisions based on the individual and pride ourselves on offering bridging loans to ‘unconventional’ candidates.
We have no dedicated criteria as we make our decisions based solely on your circumstances. We are 100% privately funded and can make faster, more flexible decisions other lenders cannot.
Should you be accepted, we secure the loan against your property or another property with an acceptable LTV. Should you fail to repay your loan or adhere to an acceptable exit strategy, your property may be repossessed.