0116 464 5554
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A bridging loan is type of short term finance product which is usually repaid between 3-12 months but can be extended up to 2 or 3 years.
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Superfast Completion, Often Within Days2nd Charge (consent not always required)3rd Charge (consent not always required)2nd Charge Behind Bridging Lender2nd Charge Behind Equity Release LenderPure Equity Based LendingValuations Not Always RequiredFree Legal OptionLand, With or Without PlanningQuick Auction FinanceAdverse Credit ConsideredNo monthly payments
Bridging finance is typically considered when time is of the essence. Being able to deal directly with a lender geared to super fast completions is a huge benefit.
Don't hesitate to give us a call. We are open 7 days per week. Alternatively, fill in our online enquiry form and one of our team will be in contact without delay.
If we can help, we will immediately send by email a written quotation containing all costs and terms.
If you are happy to proceed, we will formulate an offer for you to read and sign . We will also provide a basic list of our underwriting requirements.
Our representative will visit at the earliest opportunity to explain the loan further (if required) and to collect the required documentation.
A dedicated underwriter will work your case to ensure a smooth transaction.
Payment will occur, normally within days.
When selecting a bridging lender, it is important to choose one who can offer fast and flexible bridging finance. This is vital for buyers that need to access funds quickly. The lowest rate is not always the best option!
As bridging finance is specialist lending, it is prudent to employ the services of a lender that has extensive experience and deals predominantly in the bridging finance field.
Honesty and transparency are of the utmost importance when selecting a bridging loan lender. As bridging finance is typically more complex than a more traditional loan, it is vital that you are made aware of all aspects of the finance being offered by the lender. This entails being honest and open about any fees and charges, as well as any other policies that the borrower should know about.
Choose a lender that is committed to their customers and aims to provide the best possible service. Having a previous working history with a lender will be advantageous as there will be familiarity in the needs and requirements of the borrower. Ultimately, it is important to select a lender that you can see yourself working with successfully.
A bridging loan is type of short term finance product which is usually repaid between 3-12 months but can be extended up to 2 or 3 years.
It depends on the terms of the loan and whether you have opted to service the loan or have the interest “rolled up” and deducted at the end of the loan term. If the interest is rolled up you will not have any monthly payments to make.
As bridging loans are short term the client is required to provide a viable exit plan in order to show the lender that they have the ability to meet the loan repayment at the end of the loan period. Loans are typically settled by refinancing or sale of a property.
Valuation fees will vary depending on the size and type of the asset being valued. Other fees are typically arrangement fees and legal fees. Interest rates will be calculated using the security being offered, the size of the loan and the credit history of the applicant. Some, but not all lenders will charge an administration charge and/or exit fee.
Unregulated bridging finance is when the security property will not be occupied by the client or any member of their family.
A bridging loan is commonly used when a regular mortgage is either not possible or not the best option. Fees and interest rates for bridging finance tends to be slightly higher than a traditional mortgage. This is chiefly due to the complexity involved in bridging loans and the short-term nature.
Business Address: Office block 2, Kibworth Business Park, Kibworth Harcourt, Leicestershire, LE8 0EX
Telephone: 0116 464 5554
Email: info@bridging-loans.com
