Bridging Loans Second Charge
Bridging Loans Service
Looking for a second charge bridging loan solution?
A second charge bridging loan is where the lender sits behind the first charge lender, the loan term is typically up to 12 months and the money is used for investment or business purposes.
Special features of what we offer include:
- Second charge bridging finance from £50,000 to £25 million
- Fast finance - Looking to buy a house and need fast finance?
- Terms of finance from 1 month to 3 years
- Interest rate roll-up schemes
- Independent whole of market service - we work directly with UK bridging lenders
- Lowest bridge rates - Access to leading bridging loan deals
- Fast turnaround - speak to us today if you need to move quickly. 5 to 7 days possible.
To investigate how to get a second charge bridging loan, call our finance team on 0117 313 6058 or fill in our call back form.
How To Get Bridging Finance On A Second Charge Basis
A second charge bridging loan is a specialist loan designed for short-term situations to provide a temporary cash flow solution or ‘bridge’ before additional permanent finance becomes available.
This type of loan or finance can be ideal when you are up against the the clock and where funds are needed quickly.
The process for obtaining a 2nd charge bridge mortgage is usually straightforward with a more flexible set of criteria than most high street banks and mortgage lenders.
Like a mortgage, a bridging loan is secured against property or assets with the typical loan to value in the region of 75%.
Call our team today on 0117 313 6058 or complete our callback form.
Types of bridging mortgage finance
Bridging finance come in 2 forms:
- The first is the closed bridging loan. This is exclusively available to people who have already exchanged on a property and need the finance to secure it. This type of bridging loan can be easier to come by, as the lender will consider the sale unlikely to fall though at this point.
- The second type of bridging finance is known as an open bridging loan. This is aimed at people who have found a property they want to buy, but have not yet sold their current home. Due to the increased chance of a sale not occurring, lenders are often more reluctant to offer open bridging loans. Your chances of acceptance will be increased if you have a lot of equity in your current property.
Conditions of bridging mortgages
Short-term finance is more expensive than long-term funding, however with the extra cost you get speed and convenience.
If you are looking at second charge bridging loan options, call us on 0117 313 6058 or complete our request callback form.