Welcome To SingingPig.co.uk

simon1:

Hi Everyone,I am looking for bridging finance for a deal in the usa around £1.8million can anyone help.thanks Simon

1. The US does not use the phrase 'bridge financing' the same way it is used in the UK. Close but not that commonly used.

2. Explain the deal a bit. There are different types of financing that would be commonly used depending on the situation.

3. Even if we clarify the terminology it still could be tough for you to get financing in the US when you are not resident there (assuming you are outside the US). The financing will be very dependent on the cash you have in the deal and the take out strategy (assuming your 'bridge' is temporary).

4. The type of property matters a lot. The use of the property is even a factor (own occupied vs. rental, type of owner occupation, habitable or needing refurbishment).

5. Are you really trying to borrow in Sterling (see symbol before amount above)? 

John Corey

PS. I do not check here every day. If you need a timely response email me. I am more likely to see if unless I am in an all day meeting.

Follow me on Twitter -> www.twitter.com/john_corey 

Cross boarder transactions are hard. Three reasons.

1. Credit analysis

2. Legal restrictions on who can offer a loan and how the loan can be secured. Normally this will require the lender making the actual loan to have an operating business in the legal juristidiction where the property is located.

3. Currency risks as you are suggesting Sterling and USD is involved. 

We can discuss further. Best would be a loan in USD offered by a US lender and secured by US property. Or a loan in Sterling, offered by a UK lender and secured by UK property. 

John Corey

Follow me on Twitter -> www.twitter.com/john_corey 

Simon,

Have you got your finance in place yet?

If not, contact me to discuss.

Regards.

Gareth

Unless you either have substantial equity in your existing properties ( preferably UK properties ) or you are buying the USA property at a BMV of at least 50%, then you will have next to no chance of raising the finance you are seeking.

I presume you have discussed this venture into the New World with your Independent Financial Adviser?