Quick Bridging Loan
Quick Bridging Loan Service
Our Santander Bridging Loan Services can provide you with:
- Briding finance - £50,000 to £15 Million
- Exclusive Bridge Loans – We provide you with exclusive bridging loan deals that you will not find elsewhere on the high street.
- Whole of market Service – We compare all deals from all of the top lenders in the market so you do not have to.
- Lowest Bridging Loan Rates – We give you access to the leading bridging loan deals.
- Swift Turnaround – You can contact us today if you need to work quickly
- Thinking of buying a property at auction? – Contact us today
Quick Bridging Loans
If you need finance in a short space of time, then approaching a traditional lender for a loan may not be your best option. Traditional lenders’ applications can take up to several weeks or even months to process, which could result in costly delays. To access significant amount of finance in a short time period, you could utilise a quick bridging loan.
About bridging loans
Bridging loans are a secured type of loan, which means you will need an asset to secure such as a property. It is important to note that if you do not meet the bridging loan repayments you could lose your asset. Bridging loans are not usually advertised in the high street and traditional lenders rarely offer them to the general public.
Features of quick bridging loans
In order to secure a quick bridging loan, you will need an exit plan. An exit plan is the strategy you intend to use to fully repay the bridging loan. An example of an exit plan is where the borrower gets long term finance in place, such as a mortgage.
A bridging loan lender usually offers the option to ‘roll-up’ the interest of the loan to pay at the end of the term of finance. This may be a useful feature because it enables you to avoid monthly interest payments and focus the loan on your financial needs.
Bridging loan applications
Unlike securing a loan from a traditional lender, you will not have to provide a large amount of documentary evidence to support your application. Typically, bridging loan lenders are only focused on your ability to repay the bridging loan. Bridging loan applications can be turned around quickly and it is possible to secure the finance you need within 7 working days, depending on your personal circumstances.
Bridging loan finance deals are not usually found in high street bank and are typically not advertised on comparison websites. Therefore, if you need a bridging loan, it is advisable to contact an adviser. A good adviser will be able to find the best deals on the market to suit your set of circumstances.
Our client purchased a property at auction. It was a Grade II listed farmhouse, which they planned to split in to a home for themselves and a holiday home to provide ongoing income. However, they had to pay the deposit within a given time frame or lose the property.
While the client had planned to sell their home in order to pay for the property, the buyer had recently pulled out and left them in need of bridging finance.
Luckily, their home provided enough security for the lender to only use the existing property as security. This meant that they could pay for the new property and had extra time to find a buyer for their old home. The Bridging finance allowed them to proceed with their plans stress-free.
If you need a quick bridging loan then we can help. Contact Fair Mortgages on 0117 313 6058 or fill in the online contact form on this page.