Bridging Loans
If you've seen a property for development such as a buy to let, a property at auction or your next perfect home that's to good to miss but need short term finance to secure the purchase, a Bridging Loan could be the answer!
- Bridging finance can secure your next purchase
- Open & Closed bridging loans available
- Bridging loans can complete in as little as 2 weeks!
- Expert advisors will talk you through the loan & application process
- Confidential one-2-one advice
Types of bridging loans
There are mainly two types of bridging loans available, namely a closed bridging and an open bridging. The type that would be best suited for you would depend on what you need the loan for.
A 'closed bridge' is only available to home buyers who have already exchanged on the sale of their existing property. Very few sales fall through after exchange, so lenders are happy to offer closed-bridge financing.
An 'open bridge' is typically used for people who have found a home they want to buy but have not yet sold their home, so there is no set closed date on the bridging finance, the lender would require more questions answered and the borrower would normally require plenty of equity in their existing property in order to secure the loan whilst they sell their property and buy the new home.
Bridging loans can be used for practically any property purchase:
- Your next home
- Buy to let investment
- Property at auction
- Conversions or refurbishment
- Development
- Home Improvements
The Bridging Loan Process
Our process for a bridging loan application has been made as easy as possible.
Once you have submitted your details on this page or called us on the number above, one of our specialist advisors will call to assess your needs and qualify if a bridging loan is right for you, if it is we will take all the necessary information and, once we have obtained a decision in principle from one of the many lenders available, you will be given all the information and our recommendation so you can make an informed decision on what you want to do.
Its that easy, if you think you need a bridging loan simply call 0845 094 2331 today!
