What can bridging loans help with?
A bridging loan can help to provide extra funding for any use, including:
Property purchases | Property auctions | Property refurbishment
Get a short-term financial boost for up to one year:
A bridging loan (or ‘bridge loan’) is a loan which allows you to borrow money for a short period. This is usually up to one year. It can help to ‘bridge the gap’ to secure funding to buy a new property quickly or can be used for auction finance. For example, bridging loans can help homeowners purchase a new home while they wait for their current one to sell, to preserve a property chain or when downsizing. In this situation, your existing home will be used as collateral.
Bridging Finance can be arranged more quickly than a residential Mortgage if you need to raise capital in a hurry. Lack of a permanent income and poor credit histories can be overlooked.
Depending on the available equity in any property you own we can raise cash to secure your next purchase without having to wait for buyers’ chains to complete.
Bridging loan rates are typically higher than normal Mortgage rates, as most Bridging finance must be paid back within 12 months. Fees can be added to the loan.
A bridging loan can help to provide extra funding for any use, including:
Property purchases | Property auctions | Property refurbishment
Would you like to receive £500 off your bridging loan fees?