A bridge loan is a type of short-term loan for the purchase of property where time is of the essence or where a property is not habitable and in need of refurbishment. It is typically taken out over a short period from 30 months to up to 24 months depending on the applicant’s needs. It provides a quick cash impact on a non-standard status basis. It is a non-standard finance solution that bridges the gap between the applicant’s desire for standard long-term mortgage need and their need to buy or refinance a property.
Key bridging loan points
Funding from £10,000 upwards with no upper limit.
Loans are available on a first or second legal charge basis.
Funds are available on residential or commercial projects and up to 75% of property value.
Further advances were made against an increasing valuation.
The term is generally between 3 to 12 months
Monthly interest rate from 0.50% to 1.75% per month dependent on loan to value and term.
Arrangement fees are typically between 0.5% to 1.5%
Valuation and legal fees charged at cost.
Why don’t you call our specialist bridging loan desk now on 0208 088 22 11 and see what we can do for you.
Interested in cooperation or have questions?
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