Commercial Bridging

Avamore provides Commercial Bridging either as an exit solution or in the early stages of the project

Annual Rate

From 7% p.a.

LTGDV

67.5%

LTC

90%

Loan range

£500k – £10M

Term range

3-18 Months

Avamore funds Commercial Bridging. To date, it has funded the acquisition of a student accommodation block in Coventry and has worked with several borrowers to acquire commercial sites which have later been converted to residential units. Avamore can support the borrower at the bridge and then development phase through its Conversion or Ground Up product.

Need More Information?

Download the commercial bridging product guide

What is there to know about Avamore’s Commercial Bridging Product?

Avamore’s Commercial Bridging Product is suitable for property acquisition or when a borrower is looking to buy a development site with planning consent quickly. It can also be used when buy-to-let finance is not available, or the borrower needs to refinance a completed development facility in order to release equity for the acquisition of another site.

To find out more information, take a look at the Bridging FAQS

Your Journey With Avamore

If you have a Development, Part Complete Development, Refurbishment or Bridging case, you can head to our calculator to find out if the deal fits and, download instant terms to send to your customer.

If your customer is happy to proceed, you can contact the team on terms@avamorecapital.com to request an Enquiry Form and quote you Indicative Terms reference number.

Alternatively, if you’re not too sure about the case details, feel free to give our Internal Relationship Management team a call on 020 4518 0085 and we can discuss the parameters and generate terms for you.

To download a copy of our Initial Enquiry Form, please click below.

Initial enquiry checklist

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Download the checklist of items required by the Relationship Managers to make a thorough assessment of your case

Once the Enquiry Form has been returned, your Internal Relationship Manager will package the deal to share with our Credit Analysts for a more detailed assessment.

At this stage, the transaction is reviewed by members of Avamore’s Credit Committee. At this stage, Heads of Terms, or a Decision in Principle is issued and the Formal Application Form is shared.

Provided Avamore is happy with the relevant information that has been provided, the borrower will receive formal terms. At this stage if the borrower wishes to proceed an acceptance fee is paid. From here, it is useful to start preparing the borrower’s KYC to ensure that the loan can be completed within the expected timeframe. Avamore will send you or your customer a link to complete Avamore’s online process via an app called NIVO.

Once the Application Form has been completed in full and returned, the Credit Analysis Team will review the information and then request quotes from relevant 3^rd party professionals.

At the same time, the KYC process will begin and at this stage, the Analysts will need to liaise directly with the borrower. Ensuring that this is completed as quickly as possible is key, any delays in providing information could push out the transaction timescale.

Once quotes have been returned, fees are agreed, and the professionals are instructed.

The case is then handed over to Underwriting.

After the case has been handed over, you will be introduced to your dedicated Underwriter who will complete the deal.

It is important at this stage that the borrower is prepared to provide any necessary information to the Underwriter and 3^rd party professionals. It is useful to get ahead and gather required items early on; take a look at our list of essential points below.

The speed at which detail is shared throughout this stage will determine how quickly the case can complete.

Once all internal checks have been completed and final professional reports are satisfactory, the loan can complete.

3rd Party items

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To process your loan the Avamore underwriting team will need to work with a number of third party service providers. Click to download a list of items each of them are likely to need.

Following completion of the loan, the borrower will receive their day one funds. After this, they will be introduced to their dedicated Asset Manager who will be the main point of contact moving forwards.

The Asset Manager will be responsible for monitoring the progress of the loan, issuing drawdowns and arranging redemption when the time comes. They are also well placed to advise on your next step once the loan redeems.

When the borrower is ready to repay the loan they will need to get in touch with the Asset Manager to inform them of their intentions. The Asset Manager will then provide a loan balance that is required for repayment and will also ask Avamore’s solicitor to get in touch with the borrower’s solicitor to arrange for the necessary legal work to be completed in anticipation of the repayment of the loan.

HOW can avamore help?

Key information for Avamore transactions

Making a Commercial Bridging Enquiry

If you would like to discuss a commercial bridge with Avamore, please provide the following information at initial enquiry stage:

Full Address
Current value, Build Costs and Gross Development Value
Leverage required
Loan term required (include split between build term and sales term)
Developer experience overview
General description of the deal

This will allow Avamore’s Relationship Manager’s to determine whether we are able to provide you or your client an indicative offer.