“The next best thing to cash…”
Rates from 0.44% per month
Bridging is simply a way to get funds to access property that may otherwise be out of reach. A tired property declined by a buy to let lender, a project property to sell, a new build development; there are a multitude of reasons but a Bridging Loan can be a super-fast and often straight forward solution that will allow you to draw down funds in as little as a week.
One of the added advantages of using ourselves is that we can secure the finance to exit the bridging finance which is one of the most common concerns with bridging; a successful refinance or exit, this is because we are FCA regulated specialists and being whole of market allows us those avenues.
Why Should I Consider Bridging Finance?
We always recommend considering all angles when dealing with your finance but a Bridging Loan can be a real saviour when traditional finance has failed or you are looking for a suitable exit route from your current property. Bridging Finance can also help add value to a property, giving you the cash to do light and heavy refurbishment to get a higher value for the property when you come to sell it.
Bridging lenders will lend where other traditional routes fail, some of these situations include:
- Rapid Speed Requirement – transactions with very tight deadlines. e.g. contract races/auctions.
- Renovation Need – Light Refurbishment & Heavy Refurbishment projects
- Chain Break – avoid relying on a purchaser for existing property sales.
- Change of Use – this could to convert an office block to residential use for example.
- Auction Purchases – if you need the funds before the hammer falls, 28 day exchange should be easily achievable.
- New Build Development – purchasing land or building new housing development.
- Conversion – this could be converting a house to flats for example.
- 100% Loan to Value – using additional security, you can use Bridging Finance to get extra funds.
- Development Exit Bridge – release equity from a current project to secure that next purchase.
- Short Lease – we can help with purchasing your property to extend the lease and remortgage.
What Rates Can You Get For A Bridging Loan?
Bridging rates have tumbled over the last few years and as whole of market brokers, we can give you access to hundreds of deals, including some not even available on the high street. Our rates start at 0.44% for lower loan to values and we do as much as we can to keep your fees competitive too.
Other fees may include a valuation fee, arrangement fee, legal fees and with certain lenders an exit fee, so it’s vital to make use of a specialist broker like us, as we can find a deal which will suit the project and of course most importantly, you and your budget.
Our insider know-how can also save you money, for example did you know that interest can be rolled up to limit your outgoing costs during the project.
We will scour the entire market to get you the absolute best deal. We have great relationships with all lenders including Interbay, Together, Octopus Property and Masthaven to name but a few. That being said, we are working for you so you can guarantee that our advice is impartial and only recommend the best rate for you and your budget.
How Do I Get Bridging Finance?
Whether you’re looking to invest in London or Land’s End, give us a call to briefly outline your plans on 08009499410. Unlike most brokers who are just interested in the numbers, we’ll take the time to talk to you about your situation so you get a better deal with less stress.
We do all of the legwork and Heads of Terms can be made available often on the same day. We send you the best bespoke quotes completely free of charge. No pressure, no obligation, no risk.
We don’t charge any upfront fees at all – and better yet for larger bridging loans there is no broker fees with us either. You’ll know all aspects of the deal before you start the ball rolling so to speak.
We will need some information from you to start the application but we can complete all of the necessary forms and initial assessment to get you a decision in principle in hours. Simply put, Bridging Finance can give you the flexibility to go forward fast.