If you need to buy a property quickly,or just raise fast finance, a bridging loan might be your best option.
The bridging market has grown significantly over the last few years, giving you an almost dizzying amount of options to raise fast finance. With all the choice, the various options can blend into one mush, making it very difficult to cut through the noise and get to the details that matter to you. When we look at arranging bridging loans, we find out precisely what you need and what you are raising the finance for, putting you with a lender that suits your needs.
Don’t wait, just call me on 01492 233 999 – No obligation or cost with the potential to save you thousands – it’ll be the best call you make today.
Start Searching The Whole Market
Your information is safe with us and we don’t perform a credit check at this stage.
We have a panel of more than 100 lenders. If it’s doable, we will fund it!
Having such a large wide of range of lenders means we can arrange a bridge loan that suits your needs.
- No Upfront Fees
- Bespoke Facilities
- Market Leading Rates
- Easy Applications
- Immediate Decisions
- All of the UK
- Valuation reports not always required
- The Best Rates
- Borrow for 1 day up to 2 years
- Interest roll up or pay monthly
- Wide Panel Of Lenders
- For All Types Of Property
- FAST Completions
- No need for perfect credit
Quick, Easy Short Term Loan Application Process.
We know you don’t want a long drawn out application process. One of the main reasons you would take bridging is that it is fast.
Our years of experience mean we can get you to the right lender, quickly and with a minimum of fuss.
Contact us either through our form or call on 01492 233 999.
We will have an informal conversation about your loan needs. This initial conversation is to find out your circumstances, how much you need and other detail that lenders will need to know.
On that first call we can give you our initial thoughts on the likely loan rates and terms you can expect. We will talk to the most suitable lenders for your case and once we have an in depth quote we will send you the details.
Don’t forget, we deal with the whole market, so your quote will be the best we believe is available.
At this point, we send you the application form and collect the relevant documentation from you. If the loan requires a valuation it will be instructed now as it is key to all loans secured on property.
As the loan will be dependant on the value of the property you can wait until the valuation is back but at this point, when time is right, solicitors will also be instructed.
Once all the relevant information has been submitted to the lender and the legal process has been completed, the funds will be sent to your solicitor and transfered to your bank.
Bridging Finance – F.A.Q.’s
1. What Are Bridging Loans?
Bridging Loans are basically loans secured on property that are typically arranged quickly and taken out for a short period of time. Secured on property, they can help with broken purchase chains, which is the traditional use, but more and more they are being used by businesses for other reasons. Paying an urgent bill while waiting for long term finance or raising business capital are both legitimate uses for modern bridging clients. In fact, as long as the purpose is legal, we can arrange short term bridging for you.
What do Bridging Finance Loans Cost?
This will depend on the detail of your application. The loan amount, loan term, loan to value and other information will determine the cost of the finance. Rates start from under 0.5% per month up to 2% a month, so it really does vary. You can be sure that when you work with us, we will search for the lowest cost option for you, that suits your business needs. Read more here about the cost of bridging loans.
Am I Eligible to Apply For A Loan?
As long as you are trading as a limited company then we can work with you. Call 01492 233 999 to have a discussion about your requirements.
How Quick Is The Decision?
We can tell you over the phone, right away if we think what you want is available. We can get responses from lenders within a few hours, at most, normally – we don’t mess about!
How Long Does It Take To Get The Money?
It can vary quite dramatically. No doubt you will have seen promises of funds in 48 hours or within a few days. This is possible but it is by no means normal. Generally there shouldn’t be too much problem in having the money with you within a couple of weeks but you need to make sure your solicitor is able to perform – if they don’t work with the lender it can drag on.
If you need an urgent bridging loan we can make sure the application runs as quickly as possible, making sure you don’t miss your deadlines.
Do Lenders Do Credit Checks?
Some do, some don’t. If you don’t have the best of credit, don’t worry. With so many lenders on our panel (over 100!) we will find someone that will lend to you!
Can I Repay A Bridging Loan Early?
You can pay the bridging loan back whenever you want. Depending on the specifics of your needs, there may be repayment or Exit Fees, though we will do our best to avoid them for you.
How Much Can We Borrow?
As with a lot in life, it depends. The biggest factor is the value of the property, or properties, you are looking to use as security for the loan. We will take on cases that need funding from £25-30,000 up to multi million pound enquiries. There are lenders for all options, so whatever amount you need it is worth giving us a call, we can have a no obligation chat – 01492 233 999.
Are There Upfront Fees?
We don’t normally charge you an admin, commitment or whatever you want to call it fee upfront to take on your case. There are costs to consider, though. To go to a full application you will have to pay for a valuation, whether the loan completes or not and solicitors often want undertaking for their costs. Lenders will only want to start an application if they think it will complete, so it is not likely you are spending money for no reason. Our fee, would generally only be paid on completion of your loan.
Are Bridging Loans Only For Property Developers And Traders?
The Short Answer is no. The longer answer is that bridging loans can be used for any legal purpose. We have had clients use them to pay an urgent bill and raise capital to fulfil an order. Bridging providers will want to know how you intend to repay the loan, so that does need to be kept in mind but as long as there is a secure exit route, we can arrange your bridge for any purpose. These can be first, second or possibly even third charges and you can use development land to existing property as security.
Where Does The Money Come From?
Different lenders have different sources of funding. Some are backed by hedge funds, some are wealthy families and there are private investors. Some will also have money via credit lines from other lenders. For you it doesn’t really tend to matter. You will be dealing with a lender that has its own rates, terms and ways of working.
How Much Can I Raise On My Property?
The specifics of your enquiry will determine what level of bridging loan you can raise on a property. It is going to be dependent on what sort of building it is, the value, location and the general market in that area. For a bog standard residential bridge loan it is possible to get up to 75% of the properties value. Commercial buildings and land can also be used as security for the loan.
How Long Can I Take A Bridging Loan For?
Lenders typically provide loans from 6 – 24 months so there is plenty of flexibility there. Let’s be frank, though, at these higher rates you don’t really want to be borrowing the money for longer than you need. That needs to be balanced against the fact that you don’t want to go past the loan term. Bridging loans are lent out for a specific period of time, going past that generally ends up meaning a higher rate, sometimes much higher, and potentially fees as well.