Low Interest UK Bridging Finance Compared to Halifax
If you are looking for a fast and uncomplicated short-term financial product to bridge the gap between buying your new home while waiting for a sale to go through on your existing property, a bridging loan arranged through an expert broker such as ourselves is an incredibly attractive option.
With low interest rates, reduced borrowing restrictions, and unrivalled flexibility, our whole range of market-bridging products represents unrivalled value for money. The speed at which they can be arranged is another important factor when considering the full range of borrowing options available, with most applicants gaining access to the funds they need in around a week.
Benefits of a bridge loan:
- Flexible funding, from £25k to £50 million.
- Available for residential and commercial borrowers.
- Repayment terms range from 1 to 24 months, with monthly interest charges.
- Funds can be released quickly for urgent property purchases or business financing needs.
- Low-interest rates: we search the entire UK bridging loan market for you.
- Interest can be rolled up and added to the loan sum.
How can a UK Property Finance bridging loan help you in comparison to a Halifax loan?
Bridging loans can be used to solve all manner of short-term financing problems. In fact, many property investors and residential homeowners rely heavily on bridging products in order to deal with time-critical cash flow issues that they would otherwise struggle to solve, such as financing the purchase of auction property, dealing with mortgage chain problems, and funding development projects. Getting a bridging loan accepted from UK Property Finance Ltd. could be a lot more affordable than a bridging loan from Halifax, and you could get the funds a lot quicker.
UK bridge loan types
There are two different types of bridging loans available: ‘open’ and ‘closed bridging loans. With an open bridging loan, you may use the equity in your home towards financing a new one, even with no contract in place and you still looking for a suitable buyer. Although it is worth keeping in mind that some lenders will still be hesitant to grant open bridging loans, closed bridging loans are suitable for specific situations where you have a clear exit strategy, like the sale of a property, to repay the borrowed funds.
Getting the best deals
Closed bridging loans, on the other hand, are much easier to access. These are available for residential homeowners and commercial property investors who have already exchanged contracts for a sale and are simply awaiting payment. To work out how much either type of bridging finance is likely to cost, you can use our bridge loan calculator, which will also enable you to obtain a number of free, no-obligation quotes from lenders across the whole market so you can compare the rates to Halifax Bank or other lenders.
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