Get there quicker with bridging finance
Open or closed bridging loans might be a great solution if you’re in need of a loan fast. Speak to our advisers about bridging loans today.
How we help with Bridging Loans:
When speed is of the essence
If you’re looking at a time-sensitive transaction, like securing a new property before the previous one sells, a bridging loan might be ideal.
When there are substantial renovations
If you're purchasing a property that requires substantial renovation or refurbishment work, traditional mortgage lenders may be hesitant to provide financing. Bridging loans can be used to acquire the property, carry out the necessary work, and then potentially transition to a mortgage once the property is in an improved condition.
When you need to fill a cash flow gap
Bridging loans can give you the flexibility to buy your next home without having to wait for your previous property to sell.
Let us find a bridging loan for you
Speak to one of our friendly advisers today, and download your credit report via 'Check my file', to kick start the process.
Product FAQs:
Standard mortgages are typically the go-to for property purchases and are usually long-term commitments lasting up to 30 years with monthly repayments and potentially lower interest rates. Bridging loans on the other hand are short-term solutions more often used to cover a financial gap. These loans are generally up to 24 months in term, with higher interest rates that can be retained, serviced, or rolled.
There are several types of bridging deals, including: those involving refurbishments, those involving conversions, or those purchased below market value at auction.
Because each bridging deal has its own set of circumstances, there is no set deposit amount. Lenders will offer different bridging terms for each deal, so the exact amount an investor or developer will need to put into the deal themselves will vary. Factors like whether the lender is offering retained interest, rolled interest, serviced interest, or moneys for a refurbishment all are typically factors that influence bridging loan terms.
