Bridging Loan for Land
Bridging loans are commonly used for land purchases, especially for development sites. Bridging finance offers a fast, flexible way to access the capital you need to buy land for a range of reasons, including commercial and residential property development projects.
Bridging loans offer short-term finance when other types of borrowing, such as a mortgage, are not available or appropriate. They are usually offered over up to 18 months and can often be accessed in as little as a few days, making them ideal when a quick funding solution is required.
Why use a bridging loan to buy land?
Bridging loans are ideal for buying land as they can usually be secured against the value of the site, as opposed to a mortgage where the site would need a habitable building on it.
Bridging finance can be raised quickly, which makes it a good solution for auction finance, where you normally only have a 28 day window after winning a lot to complete the purchase. A bridging loan can also allow you to jump on a new opportunity even when your main capital is tied up elsewhere.
A bridging loan can also cover the cost of development, including fees and construction costs. One big advantage of using a bridging loan for development finance is that you can usually take the money in instalments as the development progresses, meaning you only pay interest on the money already taken.
How to get a bridging loan for land
Bridging loans for land are usually only offered through private banks and lenders or dedicated subsidiaries of high street lenders. In both cases, you will normally need to apply through a loan broker, as most bridging loan lenders do not deal directly with the public.
Find the best interest rates on a bridging loan for land
Our free bridging loan calculator offers a fast, reliable way to find the best deals on interest rates and fees on bridging loans for land and other development costs. Simply share some basic details about your borrowing needs and financial situation and we will match you up with the best value bridging loans from across the market.
Need a bridging loan for land? Get in touch with our friendly expert team of loan brokers using the contact form on the right or by calling 0117 313 6058.