NEW PRODUCT: The Equitable Bridge

NEW PRODUCT: The Equitable Bridge




Grosvenor Bridging Loans has already made a name for itself in the short term industry with a specialised approach to property finance. Bridging & Commercial spoke to.

Grosvenor Bridging Loans has already made a name for itself in the short term industry with a specialised approach to property finance. Bridging & Commercial spoke to Andrew Green, Managing Director at Grosvenor Bridging Loans, to find out more about the firm’s unique offering, the ‘Equitable Bridge’…

B&C: Can you tell us a little about Grosvenor Bridging Loans and how long it has been lending for?

AG: Grosvenor Bridging Loans is a boutique lending house that was set up almost a year ago. We predominantly deal with London and the South East and West, however depending on the asset we will look at everything.

How would you describe your niche within the market?

Being a small company, we are able to turn loans around within 48 hours. We have also found ourselves dealing with all types of high net worth clients in the short term lending market as part of commercial, residential and development projects.

Do you operate a closed or open distribution panel?

A closed panel at present, though this is up for review in 12 months.

What prompted the launch of Grosvenor’s Equitable Bridge product?

We at Grosvenor were looking for something that we could offer clients that other lenders would not look at. As the equitable model is unique to the market, it’s already created quite a lot of traction.

Does it utilise your existing funding line? Or, does the product utilise a limited tranche of alternative funds?

We have set aside a pot of external funding for the model.

How long has the product been in the market?

We executed the first loan almost three months ago.

Do you know if there are any other similar products in the market at present?

No, nothing that we are aware of…

Does the senior debt provider need to approve the loan?

No, we do not need approval from the senior debt provider.

What is the maximum LTV and loan size of the product?

65 or 70 per cent, with a maximum size of £250,000.

Is there a minimum property value you will accept for the security?

We will look at almost all property assets, but will lend a minimum of £25,000.

Can you explain a scenario where this product may be suitable for a client?

If a borrower has a very low rate product borrowed from a high street bank that will not allow a second charge, we are able to lend against the equity element of their asset.

What has demand been like for the product so far?

Very good! We are seeing quite a few enquiries come in every week.

Do you have any plans to launch other innovative products to the market in the coming months?

We have another source of lending that we will be releasing to the market in April… Watch this space!

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