Bridging Loans

Bridging loans an interim payment used by a business or an individual to bridge the gap between purchasing their new premises while they are still waiting to raise capital from the sale of their old property. There might also be times when you need to move quickly to take advantage of a business opportunity and a bridging loan can be arranged quickly to secure the deal while you arrange longer term finance, or even resell quickly.

Bridging loans are secured against residential or commercial properties, which will be subject to a 1st or 2nd charge against your new or existing property.

• Up to 85% Loan to Value with 100% of purchase price possible
• Simple and efficient application procedure
• Interest can be added to the loan
• No minimum term or exit fees
• Loans available from £30,000 upwards.
• Non Status loans available, with no credit checks or references.

Also bridging loans are usually repaid on an interest only basis, rather than capital repayment, with the loan being cleared on the sale or refinance of the property. This can involve a commercial mortgage, a buy to let mortgage or some other long term finance solution.

It’s worth noting that bridging loans are not intended to be repaid over a longer term and so the lender will generally require you pay a higher interest rate on a bridging loans than you would on a loan with a longer repayment period.

Summary

Bridging loans are a short term way of raising finance to purchase a new property before you have sold your old one and are used to quickly take advantage of investment opportunities that arise.

Contact us using the online form and one of our professional financial advisers will get back to you to discuss your financial needs.

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