Our short term bridging loans are for purchase, refinance, property improvement or to unlock working capital for business purposes.
This unique overdraft provides you with a flexible drawdown facility giving you instant liquidity and avoids heavy setting-up costs.
Individually structured loans for residential and commercial projects, with finance available for site purchase, construction and fees, refinance, equity release and to provide working capital. Loans are available up to 90% of the site cost.
Flexible first and second charge non-regulated loans available on terms from 3 to 5 years.
We have a commitment to innovation and with the ever changing financial landscape around us we have designed a range of unique Specialist Lending products that solve a range of property finance needs.
By Jonathan Rubins, Director & Chief Commercial Officer at Alternative Bridging Corporation
Redemption Statements: When dealing with bridging loans and property finance, it’s important to have a clear understanding of various financial statements and documents to make informed decisions. One such document you may come across is a bridging redemption statement. In this blog post, we will explore what a redemption statement is, what information it provides, when and why you might need one and how lending experts like Alternative Bridging Corporation can be beneficial in your property financing journey.
A redemption statement is a financial document that provides a detailed breakdown of the amount needed to fully repay a loan at a specific point in time. In the context of bridging loans and property finance, it specifically outlines the outstanding balance, including any interest, fees, or additional costs that need to be settled to discharge the loan entirely.
A redemption statement offers valuable insights into your financial obligations concerning a bridging loan or property finance agreement. Here’s what you can typically expect to find in a redemption statement:
Outstanding loan balance The statement will clearly state the remaining principal amount of your loan.
Interest calculation It will detail the accrued interest on the outstanding balance. Understanding the interest component is vital, as it significantly contributes to the total amount due.
Fees and charges
Redemption statements include any applicable fees or charges, such as arrangement fees, administration fees or early repayment charges. These fees can vary depending on your loan agreement.
Total amount due The statement will provide a detailed figure representing the total amount you need to pay to settle the loan completely. This includes the outstanding balance, interest, fees and any other costs.
You may need to request a redemption statement in several scenarios:
Loan repayment
If you plan to pay off your bridging loan or property finance before the agreed-upon term, you’ll need a redemption statement to determine the exact amount due for early repayment.
Property sale or refinancing
When selling a property or refinancing your loan, you’ll want to know the precise amount required to discharge the existing loan and any associated charges.
While redemption statements are not always mandatory, they are incredibly beneficial for borrowers in ensuring transparency and clarity in their financial dealings. Here are a few reasons why you might need one:
Financial planning
A redemption statement allows you to plan your finances effectively. You’ll know exactly how much you need to repay, which is essential for budgeting.
Property transactions
Whether you’re selling, refinancing, or transferring a property, a redemption statement is essential to determine the loan’s settlement amount.
Loan Comparison
If you’re considering paying off your loan or refinancing, a redemption statement can help you compare different loan options and their associated costs.
Navigating the complexities of bridging loans and property finance can be challenging and understanding redemption statements is just one piece of the puzzle. This is where we come into play.
Alternative Bridging Corporation has a wealth of experience in providing tailored bridging loans and property finance solutions. Our team of specialists can guide you through the entire process, from understanding redemption statements to finding the right financial products that suit your needs.
By working with Alternative Bridging Corporation, you gain access to:
Expertise Our professionals have in-depth knowledge of bridging loans and property finance, ensuring you receive accurate and timely information.
Custom Solutions We understand that each borrower’s situation is unique. We offer customised solutions to meet your specific requirements.
Transparency We’re committed to transparency in all our dealings, including providing clear and detailed redemption statements when needed.
Don’t hesitate to reach out to us for all your bridging loan and property finance needs.
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