Bridging Loans are used for a short term requirement or to release money quickly. Bridging loans are usually repaid within 12 months as the rate of interest is often higher than standard high street rates thus making it too expensive to borrow long term.
Depending on the security property, we have no minimum or maximum loan size, although less choice is available with the smallest and largest loans. A typical average bridging loan size is in the region of £150,000.
Subject to the enquiry being within normal working hours, we can give an indicative decision over the phone within minutes. We back this up with an email normally within the hour. If you wish to proceed we complete the required finance pack on your behalf and email/post to you, listing our documents and other requirements. On receipt of the fully completed returned pack and all outstanding information, we process your case through to completion. In reality, the quickest you would normally receive the money is 5 working days, however in more complex cases this will take longer.
No. We lend on residential, semi-commercial and commercial properties and land regardless of the construction, type or use.
Interest will depend on the loan to value ratio and the quality of the security, but can typically range between 1-2% per month.
Yes, if you manage to secure longer term funding, you can repay the loan early without penalty.
No. However, we recommend customers seek independent legal advice prior to completion.
Yes, at any time. This will reduce the balance outstanding as well as your monthly repayments.
We can arrange life cover on all loans, if required.