Post Office Bridging Loan
Bridging Loan Service
Compare Post Office with the market:
Special features of what we offer include:
- Bridging loans up to £15 million
- Terms - 1 month - 36 months
- Whole of market service - we work directly with UK bridging lenders
- Lowest Rates - Access to leading bridging loan deals
- Fast turnaround - speak to us today if you need to move quickly
- Buying a property at auction? - call us today
To investigate your bridging finance options call us on 0117 313 6058 or fill in our call back form.
We can provide bridging loan options and then provide mortgage solutions once the bridging loan is no longer needed.
Bridging loans can offer a way for borrowers to get short-term property finance. As the name suggests this kind of finance is intended to ‘bridge’ the interim period between a borrower being required to pay for a property or plot and them being able to receive capital through other means such as sale of another property or the approval and payment of a more long-term finance plan such as a mortgage.
Types of bridging loan
Bridging loans can be classified into categories of either ‘closed’ or ‘open’ depending on their terms and conditions.
- Closed bridging loans – Usually have a fixed date of repayment. Meaning from the start of the loan the borrower knows exactly when they are required to repay the loan, if it offers a fixed rate of interest exactly how much more they will need to repay.
- Open bridging Loans – With an open bridging loan you will have no fixed date of repayment, but it is common for a lender to still require the loan to be repaid within 12 months.
Before taking out bridging finance
Bridging finance borrowers should be aware that these types of short term loan are normally secured as a first charge against property or land, this means that failure to make your repayments could result in subsequent repossession.
Bridging finance also tends to cost more in terms of higher interest rates and fees than you would expect with a mortgage.
During the application for a bridging loan a borrower may need to provide the lender with a summary of the deal – with a reason for the finance required, what security will be provided on the loan and details of the exit strategy such as repaying the loan through a mortgage or other means. Any security will need to be assessed by the lender.
Bridging Loan Advice
If you have been considering bridging finance you may wish to think about using the services of an independent bridging broker - We offer an independent service - to discuss your options complete our callback form or call directly on: 0117 313 6058