What Is A 180 Day Value In Bridging Finance?
What this means is the value of a property, if they only had 180 days to advertise and sell the property. This value can often be 5 – 15% lower than the Open Market Value (OMV), depending on the type of property.
A bridging lender may also take into account whether the property is vacant possession or would have to be sold with a tenant in situ. This can effect both residential and commercial properties, either increasing or decreasing the value.
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Its important that you understand exactly what valuation type a bridging lender is using. This could effect the amount of money you can borrow against a given property.
Things That May Effect The 180 Day Value
- How expensive the property is
- Residential or Commercial
- Tenant or Leaseholder in situ
- Owner Occupied
- Demand For The Property Type
- Economic Outlook
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