Compare Post Office bridging loan costs with our online calculator
Flexible terms with competitive rates
Use our online Post Office bridge loan calculator to discover exactly how much it will cost you to solve your short-term financial problems whilst gaining access to some of the UK’s lowest rates borrowing rates for property owners.
At UK Property Finance, we work with the country’s leading financial institutes in order to provide a whole of market service that is designed to save our customers a serious amount of cash. Whether you need to borrow a secured bridging product in order to pay off an urgent tax bill, or you need funds in order to purchase a property at auction whilst you arrange a more permanent Buy-to-Let mortgage, we are here to help.
Similar to the Post Office, our bridging loans are ideal when you:
* Are a commercial or residential borrower.
* Need to borrow a large cash sum – between £30,000 and £15,000,000
* Want short-term funding – from 1 to 12 months.
* Require funds quickly – in around 7 days.
* Would like to roll-up the interest charges – and other costs until the end of the loan term.
How can our bridging loan, rather than one from the Post Office, help?
Post Office bridging loans can be used for a wide variety of business or property financing purposes. Typically used to fund property transactions by releasing the available equity in a property you own, bridge loans are quick to arrange with low interest rates and flexible repayment options. Unlike most long term products such as secured loans and mortgages, bridging finance are useful when you only need to borrow for a period of time lasting anywhere from a month to a year, although we can also offer the option of extending the repayment terms where applicable.
UK Bridging Loan Types Explained
When someone is looking to take out short-term finance in the form of a bridging loan then there are two main options available. These are open and closed bridge loans – and they both have different uses depending on your needs. A closed bridging loan is the ideal solution whenever the borrower has a clear exit strategy in place, such as a long-term loan that takes more time to arrange or a property sale that you have already exchanged contracts on. Closed bridging finance is the most common type of product with most lenders feeling more confident whenever you can show exactly how you intend to pay off the outstanding loan balance.
An open bridging loan is useful when you do not have a exit strategy in place. For example, if you need to borrow in order to buy a new home yet you are still waiting for a buyer to show interest in your existing property. As you can appreciate, open bridging loans are somewhat riskier from the lender’s perspective so the costs are usually somewhat higher with a lower rate of approval. UK Property Finance can provide both types of bridging products.