Halifax Bridging Loan
Our Bridging Loan Service
Special features of what we offer include:
- Residential Bridging Loans from - £50,000 to £10 million
- Term - From 1 to 36 months
- Interest roll up schemes
- Bridging loans - for individuals, limited companies, sole traders and partnerships
- 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. 5 to 7 days possible.
To investigate your bridging loan options call our team on 0117 403 4474 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 required.
What is a Halifax Bridging loan and how does it work?
Bridging loans are short-term specialist loans designed to cover a temporary shortage of credit. They act as ‘bridge’, providing you with short-term finance before additional permanent finance become available.
A bridging loan has a more flexible set of criteria than is typically required by mortgage lenders and high street banks, which makes them versatile and relatively straightforward to obtain. Similar to a mortgage, a Halifax bridging loan is secured against your property.
Bridging Loans are used to solve short-term cash flow problem. They are often used to help people buy their ideal properties prior to the selling of their existing property.
To find out more call us today on 0117 313 6058 or alternatively, complete our call back request form.
What a bridging loan can do for you?
A bridging loan can assist in helping you:
- Get there first – a Halifax bridging loan product can help you beat the competition and secure a property before you have even sold your own home, and before another buyer snaps it up.
- Speed up the process – Gain quick, short-term cash injection to assist you in the transition of purchasing your new home and selling your existing home.
- Purchase a property at auction – a Halifax bridging loan can provide you with the capital required to secure a property on the day of the auction.
- Development Finance – If you are planning on purchasing property for redevelopment purposes, a Halifax bridging loan can provide finance to help get the project off the ground.
- Mortgage Chain Issues – A bridging loan can assist in securing your ability to purchase a property, even in the event that the sale of your old house falls through.
Types of Bridging Loans Available
Halifax Bridging Loans come in two forms, open and closed bridge. A closed bridging loan is available to borrowers who have already exchanged contracts for the sale on their current property. It is typically easier to have a closed bridging loan accepted as it is considered less likely that the sale will fall through.
Alternatively, an open bridging loan is for borrowers who have already found their ideal property, but have not yet sold their existing property. Due to the nature of these loans, lenders are often more reluctant to offer out open bridging loans, although your chances of acceptance will be increased if you own a lot of equity in your current property.
Whilst bridging loans offers you a fast and convenient cash flow solution that can be used for almost any purposes, they also often charge a high rate of interest. Consequently, before applying for these types of loans you should ensure that you conduct considerable research into the market to consider all of the funding options available.
To find out more call us today on 0117 403 4474 or alternatively, complete our call back request form.