What is a Bridge Loan for a homeWhat's a bridge loan for a house?
Home bridge credits (also known as bridge credits or interim financing) are a form of short-term financing that can be used to purchase real estate when other forms of credit are not available. As a rule, you can take out a bridge loan for up to 12 month, although in some cases a longer-term loan is also possible.
Usually, when you take out a bridge loan, you have to specify an Exit Policy that explains exactly how you will pay back the loan. If you buy a home, this usually means that you replace the interim financing with a mortgages or sell another piece of real estate that you own and use the money to pay back the bridge.
Bridge credits can usually be arranger much quicker than a home loan, often within a few business day, which makes them perfect where quickness is critical. With our bridge loan calculator you have a quick and easy way to find the cash you need at an accessible price so you can continue purchasing your new home.
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Hongkong Loan House | Special Reports
In Hong Kong, HSBC continued to maintain its leadership positions with jumpbo lending, recurring assignments and event-driven financing, coupled with a stronger emphasis on sales. This year' deals were the reorganization of Hong Kong Bluechips Cheung Kong Holdings and Hutchison Whampoa, and HSBC was the only finance advisor in the driver's seat. HSBC was the only finance advisor in the Hong Kong Bluechip Group to be fully in the driver's seat. 22 of the companies in the Hong Kong Bluechip Group had a new team.
In January, HSBC provided HK$45 billion (US$5.8 billion) of a bridge loan of HK$55 billion to finance the Group's restructuring into real and non-tangible equity, and quickly shaken its commitment, coordinated a HK$40 billion take-out Facility three month later, and attracted 27 more creditors. In the reporting year HSBC led a number of acquisitions financing deals and showed enhanced structural capabilities enabling it to do more profitable businesses.
She was the bridging agent for an $800 million bridge for Jardine Matheson's Dairy Farm International Holdings business, which purchased 19.9% of the shares of Yonghui Superstores, a China based retail superstore company, and the bridging agent for Biostime International, a Hong Kong-listed company, which took out a $450 million bridge loan in September to finance an offer for Swisse Wellness, an Australia-based vitamins producer.
Bridge financing amounting to HK$ 6.18 billion for the acquisition by China Communications Construction Group of a 24.29% interest in the Greentown China Holdings development company was carried out, among other things. "HSBC has asserted its leadership in Hong Kong through its strong relationships with blue-chip, red-chip and mid-cap companies that have hired the firm to provide loan finance throughout the year," said Phil Lipton, senior credit syndicator for Asia Pacific.
In addition, HSBC was able to demonstrate many repeated engagements and demonstrated its capacity to offer leveraged finance in various different asset classes. In July, it granted a USD 500 million three-year loan to Sinochem Hong Kong (Group) after assisting the borrowing company to borrow SFr 250 million on the CHF 250 million CHF domestic fixed income securities exchange. A similar result was obtained with a long-term credit line for Shimao Property of HK$ 3.9 billion in May after an over-subscribed US$ 800 million note was issued in February.
Property finance continued to dominate the process in the municipality, and HSBC provided advice to many mandates on the best way to develop the markets, also behind the scene on corporate deals. The HSBC Bank was instrumental in a HK$10 billion loan in January for Sun Hung Kai Properties, a HK$18 billion loan in March for Henderson Land and a HK$9.25 billion credit line in June for Abu Dhabi Investment Authority and New World Development.
The company also served as the exclusive co-ordinator or bookrunner for mid-cap naming and non-traditional industries, among them Comba Telecom's USD 200 million loan to the clubs in June.