FAQs Archive - Page 28 of 31

Q: What types of vehicles can I finance?

We provide financing options for a wide range of vehicles, including cars, trucks, vans, and even specialised vehicles such as commercial trucks and construction equipment. Whether you're looking for a new family car or need to expand your business fleet, Fundur has you covered with our automotive finance solutions.

Q: What's the difference between a Commercial Mortgage and a home buyer's mortgage?

A Commercial Mortgage is a type of loan that is secured by a commercial property. Our Commercial Mortgage can be utilized to buy new commercial premises for business operations or to refinance an existing loan that is secured by an already existing property, helping to generate funds for your business. A mortgage is a loan secured against a residential property for homebuyers. A commercial mortgage is designed for commercial properties and is meant specifically for businesses.

Q: How long can bridging finance be taken out for?

When taking out a bridging loan, it's important to have a plan to repay the loan at the end of the term since these loans are short-term. This plan is commonly referred to as an "EXIT route" and often involves a buy-to-let mortgage to refinance the investment property.

Q: What is an exit strategy in bridging?

When taking out a bridging loan, it is important to have a plan to repay the loan at the end of the short-term term. This plan, commonly referred to as an "EXIT route," typically involves obtaining a buy-to-let mortgage to refinance the investment property.

Q: What can bridging finance be used for?

A bridging loan facility is a finance option that is usually used for up to 12 months. It is taken out when a regular mortgage may not be the best option or when it doesn't meet the lending criteria of the mortgage lender. The fees charged by the bridging lender, including arrangement, valuation and legal fees, tend to be slightly higher than those of a mortgage. This is because bridging finance facilities are typically more complex.