A bridging loan from money saving expert, Money saving expert is a financial website that gives advice on financial products such as bridging loans and finance, a bridge loan is a loan that is secured against an asset in nearly all circumstances this will be a property that you either currently own or one that you intend to purchase, although they can also be taken out secured against another form of tangible asset providing the bridging lender is comfortable with the security on offer.
Bridging Finance & loans can be obtained in a very short period of time where time is short, with some loans completed in as little as one week from initial application, although this would be the exception, These loans are also very much non status and the lenders main security for the loan is the asset being offered, as such your credit history and employment status whilst taken into consideration will not affect your chances of getting a loan, the lender instead will rely on the loan to value of the property being offered, this can be up to 100% if you have more than one property to offer although most bridging loans are at around 60-80% loan to value.
Bridging Loans Money Saving Expert, Some typical uses for a Bridging loan would be as follows
Buying a property prior to selling yours
Many bridging loans are used to buy a property before you actually sell yours, it may well be that you see a house that you want to buy and yours is still not under offer, this is where this type of finance can help, you use the loan to purchase and then pay it back when you have sold.
A broken chain.
If someone unexpectedly pulls out of a property chain the whole chain can collapse, with bridging finance you can use the funding to replace the person and then carry on with the chain, the loan will be paid back once all of the sales complete.
Buying an unmortgageable property
If a property is unmortgageable, perhaps in poor condition or a short lease a bridging loan is used to make the initial purchase and then with either a new lease put in place or the repairs carried out to get the property back up to scratch and then a mortgage can be put in place to repay the bridging loan.
What Next about your Bridging Loan?
Contact us to go through all of the options that are available to you can use chat, our web form or give us a call any time day or night and at the weekend. Call Now 0800 138 6001
Residentail Flats & Houses
Commercial All Types
Land with or without PP
Home Page Bridging Loan Calculator Barclays Bridging Loan Calculator What Is A Bridging Loan Do I Qualify How Much Can I Borrow Re-Payment TSB Bridging Loans How Long to Get Bridging Interest Rates Bad Credit Loans Proof Of Income Use Of A Bridging Loan Types Of Property Ltd Companies Bridging Finance Natwest Bridging Loan Santander Bridging Loan Rates HSBC Bridging Loan Lloyds Bridging Loans Nationwide Bridging Finance RBS Bridging Loan Halifax Bridging Loans What Are The Risks Bridging Loan Companies Non-Status Loans How to Apply Bridging With A Mortgage Open Bridging Loan Closed Bridging Loans Bank Of Ireland Bridging
"Great service arranged my Bridging finance where others had failed Zara worked tirelessly to get my deal over the line"
"Zara arranged a bridging loan for a project that was far from simple, she was always there to take my calls and offer advice highly recommended"
We offer to get you the best
Deals on Interest Rates & Deals
Guranteed Lowest Rates
Bridging Loan rates
Interest Rates From UK Lenders
80+ Lenders with over 500 Loans
Always the best deals
Amounts are Fr £25k to £10m
Terms can be for 1 week to 2 years
Interest from 4% pm
Loans anywhere in the UK