Need a Bridging Loan?

Get a no obligation quote on secured loans & remortgage deals for any purpose.

Secured Remortgage Loan Quote

Bad Credit?

Self Employed?

Pay off Debt

Bridging Loans

Buying a property is a huge financial commitment for most people in the UK and the costs incurred through the buying process are likely to leave you a little short of cash. If you are having a temporary cash-flow problem at this already stressful time a bridging loan may help to solve your problem.

What is a Bridging loan?

A bridging loan is a short term mortgage which is secured by your property. It is useful for people who simply need to plug the gap during financially difficult time periods. The rate of interest may be slightly higher than your average mortgage however you will receive funds quickly and have opportunity to pay off your debt quickly.

What can I use a Bridging loan for?

Bridging loans are used to solve short-term cash flow problems and will be helpful to you if:

  • You are in the process of buying a property.

  • You are in the process of buying a business.

  • You have sold your property but are waiting for your funds to clear.

  • You are experiencing a delay in moving after completion.

  • Your chain has broken down.

  • You need to consolidate your debts promptly.

  • You have bad credit (usually not a consideration compared with other loans)

 

Are there different types of Bridging loans?

Yes, there are two main types available for homebuyers, details are explained in the following table:

Types of Bridge Loans

Closed Bridge Loan

Open Bridge Loan

Available to homebuyers who have already exchanged on the sale of their existing property.

Available to homebuyers who have found their ideal property but may not have put their existing property on the market.


Bridging Loan Advice

This type of loan is usually most beneficial to those who are certain of their financial situation and have predicted that they are likely to be able to repay the debt within a few months in one of the following ways:

  • Increased income from a business.

  • Funds from a property sale.

  • Funds raised from a remortgage.


Be aware that you must be confident in your ability to repay the debt as a bridging loan can carry risks. It will be secured against your property which means that any defaults in payment may put your property at risk of repossession.


Get free no obligation Bridging Loan Quotes:

  • Fill out the simple – no obligation quote form

  • Wait for qualified advisors to get in touch and discuss your personal circumstances.

 

 

THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY OTHER DEBT SECURED ON IT. The typical APR is 13.8%. There will be a fee of 10% of the amount borrowed for arranging a secured loan. The actual rate will depend upon your circumstances written quotations on request.