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Bridging loans

Bridging Loans

start We will get for you the best deal possible from our large panel of lenders. We can design a bridging loan that is particularly suited to your individual needs using our exclusive lending facilities, and as such we are confident that we can probably match or beat any arrangements that you may already have in place, or a quote that you have been offered.

 

How bridging loans works?

searchA bridging loan is best thought of as a short-term mortgage. Like a mortgage, it is a loan that is "secured" against property. If you default on the loan, the lender can use the property to get their money back. Your bridging loan would usually be secured either on your existing property, the new one, or both of them.
The bridging loan would depend on a successful valuation of the relevant property. (The lender will get a professional valuer to confirm what the property is worth). Lenders will normally advance a bridging loan of up to 75% of the property value, less any existing mortgages. Roughly speaking this means if the property is worth £500,000 and the mortgage balance is £100,000 they will advance you up to £300,000.

£500,000-£100,00= £400,00

£400,00 x 0.75 = £300,00

deliverLTV depends on the particular lender so you could get a better loan-to-value ratio. A standard bridging loan would range from £15,000 to £2,000,000. Again, depending on the lender, a bigger loan may be possible. If so, it may take longer to arrange.

Call us Free on 0800 0029 978 or get in touch online
Finding bridging loan.
Bridging loans are available from UK high street banks and specialist bridging lenders. Because you are likely to be in a real hurry when seeking a bridging loan, the specialist bridging lenders are generally seen as being a better bet. Unlike the average bank or mortgage lender, they are set up to deal very quickly and efficiently with your request plus most of them offers lower rates and more flexible criteria. The specialists can usually come up with the money within only a few days. Their average turnaround is about a week - though it very much depends on how quickly the conveyancing has been processed by your solicitor or conveyancing agent. It is not unknown for bridging loans to be arranged within 48 hours. Bridging Loans are also available to those who have traditionally found it more difficult to get mortgages and loans i.e. the self-employed or people with bad credit. If you need a bridging loan now you can fill form or give us a call .
Flexible repayment options.
We can arrange total flexibility with your repayments. We can arrange to tailor all repayments to suit your personal circumstances and there are many ways of achieving your requirements. Your bridging finance consultant is experienced in dealing with all kinds of bridging loan requirements. For example, payment holiday schemes where interest payments can be rolled up for an agreed set period and interest added to the initial advance. Alternatively, an agreed number of repayments can be added to the advance, which will be deducted on completion..
Questions and Answers:

Is there a charge for making an application?

No !
 
What costs are involved in the transaction?
A completion / lending fee will be payable upon draw down of the funds and a valuation fee will be required. You will also be responsible for lending legal costs. Upon receipt of your enquiry form we will be able to confirm the amounts of all these fees before you commit yourself to the application process.
 
What type of security will you lend against?
We can arrange to lend on all types of residential and commercial properties including land.
 
How long will it be before I receive my funds?
We have completed bridging loans within as little as 24 hours.
 
How can I contact you?
By phone, fax, contact form or email. View the 'Contact Us' page for more details.
 
Can I make capital reductions?
In most cases. This will reduce the balance outstanding as well as your monthly repayments.
 
Is my application confidential?
Yes. We operate a strict privacy policy.
 
Can I convert my bridging loan into a longer term mortgage?
Whilst no guarantees can be given for any future event as long as your payment record was satisfactory, we will be able to help with such a request subject to application at that time and subject to you meeting the lenders criteria at that time.
 
Can I borrow more money in the future?
Yes, subject to valuation and payment history.
 
Can I apply if I am self-employed and do not have a set of accounts?
Yes.
 
Can you help people with County Court Judgements (CCJs), arrears and/or adverse credit?
Yes. Most lenders look at your future not your past.
 
Do I need a solicitor?
You have the option to appoint your own solicitors. There will be separate lending legal costs which will be confirmed in your offer documents.
 
Can you arrange bridging finance for Limited Companies?
Yes.
 
Can I use security which I do not own for my bridging loan?
Yes. However, the property owner must be party to the bridging loan.

Bridging Loans Experts

Do you have any questions regarding bridging loans ? Please contact us today.
Think carefully before securing debts against your property. Your house could be repossessed if you do not keep up repayments on your mortgage or any other debt secured on it
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