Bridging Loans

Why choose a bridging loan?

Bridging loans are a short-term funding solution, which can be helpful if you need to raise funds for a project quickly.

Essentially, it helps people gain the funding they need to undertake their plans, before they have secured longer term finance.

For example, if you want to purchase a new property but you have not sold your current house, then a bridging loan could be used to help you fund the purchase. Once you sell your house, you can use the proceeds to pay back your loan.

These loans can be used for a wide range of purposes including: property purchases, refurbishments, capital raising, development funding and much more.

Bridging loans are secured against a property, which can be either a residential or commercial property you own, often requiring no monthly repayments to be made until the end of the term when the full balance is due. This means that lenders may be more flexible with their criteria, increasing your chances of qualifying.

It is always important to ensure you have a clear exit strategy to repay the loan at the end of the term, whether you are selling your property or moving to alternative finance.

As you would expect, the interest rates for short term finance is usually higher than longer term solutions. 

Call us free on 0800 587 5136 and one of our team will discuss your options with you, whilst trying to help you form a plan to get the very best rate possible.