UK Bridging Loans

Even if you require a relatively small bridging loan we can help.  Our bridging loan lenders have the bridging finance loans start at £25,001.  The bridging loan can be secured on commercial property, residential property or land and as a first charge or second charge bridging loan.  Subject to status we can raise bridging finance for well over £1,000,000.
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As bridging loan lenders we have arranged bridging finance quotes for clients who are employed or self employed.  We have also arranged bridging finance for clients who can and cannot prove income and clients who have impaired credit.  

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Our usual term for bridging finance is between 3 and 6 months however we will accept extensions to our bridging finance term subject to status.  We would not normally exceed 12 months with our bridging finance although we do try to be as flexible as possible and providing the client keeps in regular contact we could look to extend the bridging loan term after expiry on a month by month basis.
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By using our own bridging finance underwriting system and through our contacts, associations and private agreements in the world of bridging finance we have the ability of knowing which bridging finance case can be submitted to which company.  Due to this we are very confident of knowing that if we can’t find a home for bridging loan requests then nobody else can.
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Our standard bridging finance rates are already highly competitive when compared with other bridging finance companies quotes.  We also have a bespoke approach which allows us to reduce, remove or minimize set up fees for repeat clients and preferred business on bridging finance and also to reduce rates where applicable (for example – a property purchased at auction from £100,000 may have a true market valuation of £140,000 which would enable a loan for 100% of the purchase price – subject to valuation).
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Our normal bridging finance loans will not exceed 75% of the valuation of the property.  In certain circumstances for instance where a property is being purchased for substantially below market valuation or when additional security is being used we can allow a bridging loan for the full purchase price of the property.
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Most bridging finance companies state that funds can be released quickly but in reality this is pure fabrication and with many bridging finance companies a bridging loan can take longer to arrange than with more traditional forms of finance such as a mortgage.    Through our extensive trials we have located companies who are geared to release bridging finance funds in days of contact not weeks or even months.  We also have our own underwriting and bridging finance lending facility where depending on the case we can act quickly and release the bridging loan in the time required by the client.
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We rarely have a bridging loan application where we are unsure of whether or not we can place the case.  We have vast experience in the use of bridging finance and are approached about many potential uses of bridging finance on virtually a daily basis.  We could normally give you an immediate answer on whether or not a bridging loan can be used for your requirements.
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Our bridging loans can be used for any use and can virtually be secured on all immoveable residential properties or land and commercial property or land within the UK.
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We look at all situations and requirements for our bridging finance in many different ways.  For example if the bridging loan is to be used to buy and renovate a property by the bridging loan applicant who will have no other source of income until the renovation is complete we would where possible try and roll the monthly payments up in to the loan so monthly payments will not need to be made.
Example - the bridging loan required is for £50,000 over 6 months.  The monthly payments of approx £750 x 6 would be included in the advance making the total loan advance to be repaid approximately £54,500 plus any other fees agreed.
Payments can also be made on a monthly basis by the applicant.  
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As our associate companies are licensed both under the Consumer Credit Act and Financial Services Authority we are therefore authorised to lend in both Regulated and Non Regulated areas.  As such our bridging loans and bridging finance can be secured on property as either a first or second charge.  A first charge bridging loan means that we are the only charge on the security address.  A second charge bridging loan can be used if you already have a first charge (usually a mortgage) secured on the property.
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Bridging Loans come in two varieties - "open ended" or "closed".  An open bridging loan requires no pre-arranged exit for the lender.  A closed bridging loan is where there is a guaranteed exit for the lender. This is normally in the form of a sale =≠++}+place.  Other forms of firm exit routes can also be used.  Closed bridging loans generally are for a much shorter term than an "open bridge" however funding of up to 12 months should not be a problem.

There are two types of bridging loan - the first of which is an “open” bridge.  This can be used for example when clients have found their dream property but have yet to sell their existing property.  Equity is usually needed in both properties for this type of finance to be available.  A “closed” bridging loan is for those who have already sold their existing property and are waiting for completion.  This is not as risky for the lender as the sale is less likely to fall through once it gets to this stage.

There are two types of bridging finance: closed bridging loans are normally for those whose contract for the sale of a property has been signed and open bridging loans are normally for those who have a property waiting to sell.

The rates for an open bridging loan are usually higher than for a closed loan due to the increased risk for the lender.  Bridging loans can become complex as the lender may often require the borrower to put up his new home as security for the loan in case the borrower does not have enough other collateral for the loan to be secured on.

A closed bridging loan is a popular type of loan.  It is used to buy a new home when you have sold your current home but have not yet received the proceeds.  Once both transactions are completed the total amount of the loan will be repaid in full.

An open bridging loan allows for a loan to be placed on a new property even when the sale of an existing property is not pending.  This type of short term credit advance is used in situations where the sale of a property is delayed and there is a need for cash to complete the purchase transaction of another property.  There are two types of advances -  open and closed bridging.

There are two main types of bridging loan: a 'closed' bridge and an 'open' bridge.  A closed bridge is usually only available to those who have already exchanged contracts on the sale of their existing property.  Very few sales fall through after exchange so lenders are happy to offer closed-bridge financing.  An 'open' bridge is taken out by buyers who have found their ideal property but have not yet put their own property on the market.  A lender will usually ask more questions and want more supporting documentation.  A lender will also insist on you having lots of equity in the security properties.  A closed bridging loan may be used when a secure date for the exit of the bridge is definite and with a set completion date.  As this is less risky the lender charges a lower interest rate.  An open bridging loan presents higher risks for the lender.  This situation arises when there is not an exact exit date for the loan.  The borrower may in fact be seeking a mortgage to remove the bridge.  The open nature and uncertainty of an open bridge means higher interest rates and higher loan costs.

There are two main types of bridging loans on the market: a closed and an open bridging loan.  When a lender offers a closed bridging loan they are lending to homeowners who are looking to purchase a new property and have already exchanged contracts on their existing property.  Financial institutions are far keener to lend money on closed loans as very few house sales fall through once contracts have been exchanged making the investment more secure.

Someone who requires an open bridging loan generally has found the property they wish to buy and is looking to secure its purchase but has not yet sold their current property. This is less appealing to lenders as a buyer has not already been lined up for the exiting property so their money is in more danger of not being paid back.

There are two main types of bridging loan:  these are termed as open and closed bridge. The closed bridge is available to those who have already made an exchange on their existing property.  This is because very few offers fall through after the exchange has been carried out.  An open bridging loan is given to those who have found their ideal property but have yet to put their current home on the market.  More background documentation will be needed for this type of loan and you will have to prove that you have a lot of equity in your property before you are given an offer.

There are two types of bridging loans in the UK and one is more secure than the other.  A closed bridge is a loan that is available to someone who wants to buy their new property before their current one has fully sold but who has exchanged contracts on the sale.
An open bridging loan is made available to someone who has bought their new property but not sold their existing home.  The potential term of the open bridging loan could be a lot longer. This can be risky as open bridges are expensive and you may be paying it for a lot longer than you expect.

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