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Apply For Best Rate Bridging Loans in Manchester
Bridging finance is a short-term loan, typically lasting 1 to 18 months, designed to bridge financial gaps in property transactions. In Manchester’s dynamic property market, we offer loans secured against residential, commercial, or semi-commercial properties, providing quick funding for time-sensitive deals. These loans are ideal when speed is essential, with funds often available in as little as 3-7 days.
Bridging loans can be regulated (for owner-occupied properties) or unregulated (for investment or commercial properties), with the Financial Conduct Authority (FCA) overseeing regulated loans for borrower protection. We provide loans up to 75% loan-to-value (LTV), or higher with additional collateral, catering to a wide range of financial needs in Manchester.
Common uses of bridging finance
Manchester’s thriving property scene, with its mix of residential, commercial, and student accommodation investments, makes bridging finance a popular choice. We support various scenarios, including:
- Property purchases: Buy a new home or investment property before selling your existing one, avoiding delays in competitive markets.
- Auction finance: Secure properties at auction with tight deadlines, often requiring payment within 28 days.
- Refurbishments: Fund light or heavy renovations, such as converting commercial spaces into flats or upgrading buy-to-let properties.
- Development projects: Finance land purchases or construction, including HMOs or student lets, common in Manchester’s student-heavy areas.
- Business cash flow: Cover urgent expenses, such as tax bills or business expansion, using property as security.
With Manchester’s property prices rising and demand for rentals growing, bridging loans from us help investors and homeowners act swiftly to seize opportunities.
Costs of bridging finance
Bridging loans have higher interest rates than traditional mortgages due to their short-term nature. We offer competitive rates starting from 0.55% per month, with rates typically ranging from 0.55% to 2% depending on the Bank of England base rate, LTV, and borrower profile. Key costs include:
- Arrangement fees: Typically 2% of the loan amount, charged upfront.
- Interest payments: Paid monthly or rolled up and settled at the end of the term, with no monthly payments required for rolled-up options.
- Valuation and legal fees: Necessary for property assessment and loan agreements.
- No exit fees: Many products from BridgingLoans.co.uk have no exit fees, and early repayment incurs no penalties after the first 30 days. Some lenders might have a minimum interest period
Use our online bridging calculator to estimate repayment costs based on your loan amount, term, and property value. A clear exit strategy, such as property sale or refinancing, is essential to manage costs effectively.
How to apply with us
We streamline the process to secure bridging loans in Manchester, offering loans from £20,000. Follow these steps:
- Get a quote: Contact us for a free phone consultation. Their team reviews your needs and provides an indicative quote using their online calculator.
- Decision in principle: Receive a decision in principle within hours, along with detailed terms tailored to your situation.
- Property valuation: A valuation (often automated for properties under £1 million) determines the LTV and loan amount.
- Application submission: Submit financial details, property information, and your exit strategy, with support from their expert brokers.
- Completion: Funds are released in as little as 3-14 days, with dual legal representation available to speed up the process.
We work with over 250 lenders, ensuring competitive rates and flexible terms, even for complex cases or properties in poor condition.
Contact us
Ready to unlock fast finance in Manchester? We offer expert guidance and access to market-leading rates. Contact their team for a free, no-obligation consultation.
We provide finance across the UK:
