Independent Financial Advisor Bridging Loans

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Complete this online enquiry form and one of our bridging finance team will contact you ASAP.

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029 2069 5938

Bridging Loans FAQ

Here are some of the questions we frequently get asked regarding bridging loans:

What size bridging loan can I borrow?

The amount you can borrow will depend on the circumstances of the deal, though the minimum amount we deal with is £50,000 and the maximum is £10,000,000.

What can I use the loan for?

Most bridging loans are used to secure property or land but some are used for business means (management buy outs and purchasing stock, for example) and loans have even been used for personal things such as weddings, holidays and cars.

What property can be used as security?

Any type of property can be used as collateral for a bridging loan, including residential houses, buy to let investments, semi-commercial and commercial units and land.

How long will it be until I have the money?

The exact time depends on the state of the affairs. If a suitable survey and legal documents are already in place then it will be a lot quicker than a deal that needs compiling from scratch. We typically expect to have the money in your bank account within a day to a week.

What interest rate will I pay?

Interest rates vary depending on the lender, the amount borrowed and the property used as security. Rates start from below 1% per month and interest payments can be rolled-up and paid when the bridging loan is repaid by other finance.

How long can the loan last?

Although it is not advisable to use bridging loans for long term purchases, they can be used for years. Most loans however last just days, weeks or months.

My personal finances aren’t perfect. Will I qualify for funding?

One of the reasons why this type of finance became so popular is that the loan is based on the security, rather than the individual. So long as the property qualifies for the loan it often doesn’t matter if you are self employed, have a CCJ, have previously been declared bankrupt, or have bad debts.

Can my limited company borrow money?

It can. So long as there is property to secure the finance against, a business can take out a bridging loan.

What if the property already has a mortgage secured against it?

Providing there is sufficient equity in the property then a bridge can be taken out as a “second charge” as a way of offering additional funding.

Have any other questions regarding bridging loans? Then fill in our online enquiry form or call us on 029 2069 5938 and we will be happy to help.

Faster - Bridging - Finance .co.uk is a part of Medical & Professional Investment LLP, who are authorised and regulated by the Financial Services Authority and entered on the FSA register (http://www.fsa.gov.uk/register/) under reference oc338105.

The guidance and/or advice contained within this bridging finance website is subject to the UK regulatory regime, and is therefore targeted at consumers based in the UK. If bridging finance is used for commercial property then it may not fall under FSA regulation, though we always act to industry best practice and as if all bridging finance is regulated.