Bridging Loan in Preston
Our Bridging Loan Service
Special features of what we offer include:
- Bridging loans from £20,000 to £25 million
- Terms of finance from 1 to 36 months
- Bridging loans for individuals, limited companies, sole traders and partnerships
- Interest roll-up schemes
- Whole of market service - we work directly with UK bridging lenders
- Lowest rates - access to all the leading bridging loan deals
- Fast turnaround - speak to us today if you need to move quickly: 5 to 7 days possible
We're experienced in arranging bridging finance in Lancashire and north west England
From Avenham and Chipping to Ashton-on-Ribble, Whitestak and New Longton: whether you’re completing a purchase in Preston or wanting to develop a property, it’s vital that you have your funding lined up and ready to go.
Arranging property finance from a traditional lender can be time-consuming and frustrating. Mortgage applications with high-street banks and building societies can take up to a couple of months to process, and you could be weeks into the system before you find out your application doesn’t suit their lending criteria.
An alternative way of financing a property transaction is to take out a bridging loan. "Bridge finance" is a specialist type of short-term lending designed specifically to provide a temporary cash flow solution (or "bridge") before permanent finance can be arranged.
Bridging loans can be secured against commercial property, residential property, building plots or even land without planning permission.
Bridging loans can provide:
- Fast, short-term finance when time is of the essence
- Finance from £50,000 to £25M
- Flexible terms to suit your needs
Bridging Loan Calculator
See how much you could secure for property finance in Preston with our bridging loan calculator:
Bridging loans can be used for a variety of property transactions:
- Residential purchase
- Completing a purchase when there’s a break in the property chain
- Development and refurbishment
- Buying at auction
- Buying property abroad
- Extending a lease
A bridging loan provider will want to know the details of your "exit plan": how you plan to repay the loan. You may be planning to arrange a long-term mortgage on the property you’re buying, as soon as you’re able to. Or the aim may be that the sale of the house you’re currently in will pay off the loan.
The bridging loan market is quite complex and you will probably find that engaging the help of a specialist broker will steer you through it quickly and cost-effectively.
If you’re buying in Preston and not sure how bridging finance works, or if it will be the right solution for you, call Fair Mortgages on 0117 313 6058 or complete our request callback form.