What is a bridging loan?
Our Bridging Loan Service
Special features of what we offer include:
- Bridging loans up to £10 million
- Duration - 1 month to 36 months
- Whole of market service - we work directly with UK bridging lenders
- Lowest Rates - We have access to some of the cheapest bridging loan rates in the market
- Exclusive Deals - Access to exclusive bridging loan rates not available on high street
- Fast turnaround - speak to us today if you need to move quickly
- Buying a property at auction? - call us today
To investigate your bridging loan options call our mortgage team on 0117 313 6058 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 bridging loan?
A Bridging loan can offer you a quick and flexible route to getting finance which is secured against a property.
These types of loans can be used for almost any purpose but are most commonly used by property developers and individuals who are seeking to purchase a new property but where sourcing a tradition mortgage would take too long or where lenders may not lend on standard criteria.
They are also often used to bridge a gap if you are all set to buy a new home but the sale of your original home stalls or falls through - hence the name ‘bridging loans’. As long as it is located in England, Wales or Scotland, any type of residential property, land, or commercial property can be considered as security for a bridging loan.
Bridging loans for home buyers
For those who are seeking to buy a property a bridging loan can offers solutions in situations such as:
- A quick cash injection to secure a property if you spot one that you like before your current home has sold
- Keeping the momentum going on your home purchase even if the chain breaks down – for example, if your buyer pulls out and you no longer have funds from the sale to buy your new property
- Self-building projects, renovations and property conversion projects – these properties can be hard to get mortgages for, so a bridging loan could help in these circumstances
- Finance for buying a property at auction – you will usually need to pay 10% deposit to secure an auction property and a bridging loan could help to cover this cost
Bridging Loan Calculator
To get an indicative quote on what a bridging loan would cost use our bridging loan calculator »
Other uses for bridging loans
Bridging loans are not just for private home purchases. Some other common uses for bridging loans include:
- Business financing – a bridging loan could be used to raise start-up capital to cover short term business costs, or to make a tax payment in the short term if a lump sum cannot otherwise be raised
- Development finance – if you are buying a derelict property to develop, a bridging loan could help
- Land purchase – you could use a bridging loan for buying land that is intended for development, whether for your own use or for commercial purposes
If you are unsure about what bridging loan product is suitable for you call us on 0117 313 6058 or complete our callback form.