Short Term Bridging Finance
Short term bridging finance can offer a temporary borrowing solution when you need to quickly raise capital to buy a property or complete another type of deal.
It is commonly used by both private and commercial lenders for a range of purposes, including:
- Property auction finance
- Buying a new home before your current one sells
- Arranging lease extensions
- Buying properties for renovation
- Buying a retirement property
How short term bridging finance works
Bridging loans can often be arranged in as little as a matter of days, with loan terms typically ranging from 1-18 months, although longer loan terms may also be possible.
Bridging finance is usually secured as a first charge against the property you are using it to buy, although it may also be secured as a second charge on a property you already own to help you get a better deal.
When you take out a short term bridging loan, you will normally have to specify exactly how it will be repaid. This is known as your exit strategy and will usually rely on reselling the property or refinancing with alternative borrowing, such as a mortgage.
How to apply for short term bridging finance
Short term bridging loans are usually only offered by private banks and lenders and separate subsidiaries of high street lenders. All of these options are normally only accessible through intermediaries, such as loan brokers.
To apply for short term bridging finance, you will therefore normally need to speak to a bridging loan broker who will be able to contact lenders on your behalf and help you to find the best possible deal.
Compare short term bridging finance deals
You can use our free bridging loan calculator to quickly identify the best deals on short term bridging finance to match your borrowing needs and financial circumstances. The calculator matches your requirements with bridging loans from all the leading lenders, helping you find the lowest interest rates and fees with minimal hassle.
Looking for short term bridging finance? Get in touch with our friendly expert team of loan brokers using the contact form on the right or by calling 0117 313 6058.