Short Term Bridging Loans Explained

They say time waits for no one, so why run the risk of being beaten to the punch by a competitor bidder?

Our short-term bridging loans are ideal for those who know that the best deals are never around for long. Whether you are looking to capitalise on a lucrative investment opportunity or simply buy your dream home before it is gone for good, a short-term bridging loan could be just the thing.

Why Choose a Short-Term Bridging Loan?

When time is a factor and waiting weeks for approval is not an option, short-term bridging loans provide a fast-access alternative to conventional High Street loans.

  • A bridging loan can be secured against almost any type of property, or other assets of value such as land, industrial equipment and more.
  • Poor credit applicants are welcomed by many bridging specialists, often with no proof of income required.
  • Bridging finance applications can be approved in principle within 24 hours and the funds are often accessible within a few working days.
  • Every bridging loan is a bespoke contract created from scratch, reflecting the preferences, requirements and budgets of the borrower.

When May a Short-Term Bridging Loan Be Used?

Short-term bridging finance can be used for any legal requirement whatsoever, with none of the usual exceptions. Popular uses for bridging loans include the following:

  • Purchasing properties at auction
  • Bridging gaps between property purchases and sales
  • Funding light and heavy refurbishments
  • Purchasing properties that cannot be mortgaged
  • Raising business capital quickly and affordably
  • Conducting home improvements prior to selling

What is a Short-Term Bridging Loan?

A bridging loan is a specialist type of short-term secured loan which can be arranged and accessed much faster than any conventional loan or mortgage.  Bridging finance can be arranged for anything from £10,000 to £10 million or more, with monthly interest rates as low as 0.5% or less.

Repaid a few months after being issued, bridging finance can be uniquely cost-effective as a strictly short-term facility.

Who Can Qualify for a Bridging Loan?

Bridging loans are issued primarily on the basis of the value of the assets used to cover the costs of the loan and the capacity of the applicant to repay the loan on time.

If these two main requirements are fulfilled, anyone (including limited companies and individuals) can apply for a bridging loan – even with adverse credit and/or no proof of income.

When is a Short-Term Bridging Loan Better?

A bridging loan can be just the thing when a considerable amount of capital is needed as quickly as possible, and can be repaid in full a few months later.

Instances where a short-term bridging loan could be better than a conventional loan include the following:

  • When a homeowner or investor would like to purchase a property before the sale of their existing property has been completed – effectively ‘bridging’ this common gap.
  • For purchasing properties at auction at prices significantly lower than their market value which requires payment of the full outstanding balance within 28 days.
  • Buying a derelict, rundown or uninhabitable property considered unmortgageable by mainstream lenders, where traditional loans and mortgages are unsuitable.
  • For individuals or business applicants with poor credit or no formal proof of income, who would not be considered eligible for a loan or mortgage on the High Street.

At Bridgingloans.co.uk, we work hard to help every client access an unbeatable deal from any top-rated UK lender. Whether you are ready to go ahead or simply considering a bridging loan application, we are standing by to take your call.

Contact the team at Bridgingloans.co.uk anytime for an obligation-free consultation, or email us with details of your requirements and we will get back to you as soon as possible.

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Bridgingloans.co.uk is a trading style of UK Property Finance Ltd which is authorised and regulated by The Financial Conduct Authority (FCA) FRN no 667602. Think carefully before securing debts against your home. Your property could be repossessed if you do not keep up repayments on your mortgage or on any other debt secured on it. The team at UK Property Finance have many years of experience in all types of regulated and unregulated property finance, in-particular bridging finance and property development finance. Not all property finance products are regulated by the Financial Conduct Authority.

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