Amounts are From £25k to £10m
Terms can be for 1 week to 2 years
Interest from 4% pm
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"Zara arranged my Bridging Loan with the minimum amount of fuss and was always their to take my call great service from start to finish"
"would recommend five stars Zara pushed to get the loan over the line 100% very experienced and worked with me all the way to get completion
A Bridging Loan to buy a property.
This is the most common use for a bridging loan, to make a quick purchase on a property that you want to purchase, this is usually for when say you have found a property that you wish to make an offer on and buy before you have sold your current home, the fact is that an estate agent will not accept an offer on a property for sale until the person making the offer has a sale agreed or finance in place to complete the sale, this is where your bridging finance comes into play because with a bridging loan agreed the vendor and agent will accept an offer as in effect you already have a bridging loan in place, you are also as good as a cash buyer as you do not come with the baggage of a property chain that is dependant on the sale, so as such you are in a far better bargaining position with the vendor as they know you can complete the sale quickly. Property Chains in sales are fraught with danger and at anytime one of the buyers or sellers could change their mind or have a change in circumstance with puts the whole chain in jeopardy, when this happens often the only quick fix is to take out Bridging Finance to ensure the sales continue.
Buy a Property at Auction
Property Auctions are an excellent place to buy cheap properties, however, there are drawbacks if you are not a cash buyer you will need to get funding in place quickly as they will usually only allow up to 30 days for you to make payment in full, this will require a 10% deposit on the fall of the hammer with the balance within the 30-day timeframe, as it would be near impossible to arrange a mortgage in such a small time frame a bridging loan is the only realistic answer because they can be arranged in a very short time as little as 7 days then auction buyers use this type of funding until they have either sold the property on or refurbished and then raise a long-term mortgage on it.
A Bridging Loan to release equity from a property you own.
If you own a property or properties say in a buy to let portfolio, a commercial property or even just your own home, then the likelihood is that over the last few years you have built some equity in the property with property prices rising substantially throughout the UK in the last ten years many owners are sitting on cash that they sometimes need to access, this is one of the many uses bridging loans are taken out for, you can get up to 75% of the properties value less any outstanding mortgage on it, so if you own a property worth say £300k a bridging loan could be taken out at 75% so up to £225k although you would have to take off any other mortgage or loans that were outstanding on the property so in effect if you had a £100k mortgage then the bridge would be up to £125k, the reasons for releasing equity are many it could be to cover a debt that you unexpectedly get, general cash flow for your business or any other reason as long a the use is for legal purposes the lender will be happy for you to use the funds as you wish.
Bridging Finance & Loans Terms
Bridging Loans are for anything from one week up to as long as two years, however most are taken out for up to 12 months, they are really just a short-term mortgage that is secured against the property be that on a first or second charge basis, the lender relies on the equity that is in the property for their loan security, anything over 12 months would be considered a short-term mortgage.
Bridging Loans Type of Property I can borrow against.
Bridging Lenders will lend against any type of property and some even against other assets that are tangible such as shares art etc. However Property is the number one asset that is used to secure a loan, with the vast majority of these properties being residential, either houses or flats, you can get a secured loan against a commercial property, but most lenders like to stick with residential loans, we do however have a number of specialist lenders who will lend against all types of commercial and semi-commercial properties and this also includes land that has planning permission and also land that still has a value without planning permission.
UK Bridging Loans are one of the UK’S leading bridging loan brokers and can search all of the loans on the market to source the perfect deal for your circumstances.
Contact us now to discuss your proposal and we can assure you of the very best advice and service, call us now 0800 138 6001 or use the contact form on this page to compare loans.
1st UK Bridging Loan are specialised brokers who only provide Bridging Loan Quotes from all of the leading lenders in the UK, by using our comparison service you will be able to check out all of the best rates and deals that are on offer this will enable you to make an informed decision on what is the best bridging finance for your circumstances.
We have been the leading broker in the UK for many years and as such have a wealth of experience within the Bridging Loan financial sector because we only deal with Bridging loans and nothing else we are established experts within our field.
Furthermore, as a premier bridging loan broker we can offer exclusive offers that would not be available either direct from the lenders of other brokers, we also monitor every lender's rates and offers on a daily basis so the interest rates that you can obtain will be the very latest on offer.
Bridging Loan.co.uk are also fully registered with the Financial Conduct Authority and as such you will always receive the very best advice for your circumstances.
There are so many reasons to choose UK Bridging Loan.co.uk
One of the oldest bridging loan brokers in the UK.
Always here we will deal with your questions anytime day or night 24/7
We totally focus on getting you the best interest rates on the market
State of the art technology used throughout your application
We monitor all of the rates and deals of every lender in the UK
Fully FCA regulated firm offering you confidence and trust
We have been helping clients get Bridging Loans & Finance for 15 Years
Over 400 five star reviews online
Always transparent on what your total costs are likely to be
Never any fees upfront
We always work tirelessly to get your loan over the line day and night
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