Bridging loans are a type of short term finance often used for buying property. They offer a fast way to borrow the money to buy a new home, Buy to Let property or renovation project. Bridging finance can often be accessed in just days with loan terms of up to 18 months being common.
Bridging finance is often used for:
There are various reasons why people use bridging finance to purchase residential property. Some of the key advantages are:
Interest rates vary between lenders and tend to be higher than for mortgages and some other forms of secured borrowing. It is therefore important to get the best deal you can on your interest rate and fees, which is one of the reasons why most people use a loan broker to access bridging finance.
Factors which are likely to affect your interest rate include:
Our free bridging loan calculator offers a fast, straightforward way to get a bridging loan at the lowest possible cost. All you need to do is share some basic information about your borrowing needs and financial situation and we will match you with the most attractive deals from across the market.
Looking for bridging loans for residential property? Get in touch with our friendly expert team of loan brokers using the contact form on the right or by calling 0117 313 6058.
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