Need finance in a hurry? With a panel of over 30 Bridging Loan lenders we have the ability to source fast bridging loans that are tailored to suit your needs.
Bridging Loans from £100k to £10mil
We will find the perfect Bridging Loan for your business.
Our team of experts can talk you through the various options to ensure you find the perfect Bridging Loan for your Business needs.
What are Bridging Loans?
Bridging loans are short-term financing options that provide quick access to funds to bridge the gap between the purchase of a new property and the sale of an existing one. They are designed to provide a fast and flexible solution for property transactions and can be used for a variety of purposes, including:
1. Property purchases: Bridging loans can be used to purchase a property that is yet to be sold, allowing you to complete the transaction quickly.
2. Refurbishment: Bridging loans can be used to finance the refurbishment of a property, allowing you to make improvements before selling or renting it.
3. Auction purchases: Bridging loans can be used to purchase a property at auction, giving you the funds to pay the deposit and complete the transaction.
4. Gap financing: Bridging loans can be used to provide gap financing when you have a delay in the sale of your existing property, allowing you to complete the purchase of a new one.Click to Apply
What are the requirements for a bridging loan?
It is important to consider the requirements and terms of bridging loans carefully before applying. Bridging loans can be a useful tool for property transactions, but they come with higher interest rates and fees compared to traditional loans, so it’s important to ensure you have a clear plan for repaying the loan and can afford the costs. A Bridging Loan is used to enable a Business to obtain a quick injection of cash they need to move forward. Funding can be quick and put in place within a week and is ideal for those Businesses who need the funding and can repay back within a short timeframe.
Whether a bridging loan is a good idea depends on your specific circumstances and financial goals. Here are some factors to consider when deciding if a bridging loan is right for you:
1.Urgency of the transaction: Bridging loans are designed to provide quick access to funds, so they may be a good option if you need to complete a property transaction quickly and have a clear exit strategy for repaying the loan.
2.Cost: Bridging loans typically come with higher interest rates and fees compared to traditional loans, so it is important to consider the cost and ensure you can afford the repayments.
3.Exit strategy: Bridging loans are typically short-term solutions, so you need to have a clear exit strategy for repaying the loan, such as the sale of the property, a refinance, or other means of repaying the loan.
4.Purpose of the loan: Bridging loans are typically used for specific purposes related to property transactions, such as purchasing a new property before selling an existing one or financing a refurbishment. Make sure the loan is being used for a legitimate purpose and that the property provides adequate security for the loan.
5.Other financing options: It is important to consider other financing options and compare the costs and terms of bridging loans with traditional loans and alternative financing options before making a decision.
In conclusion, a bridging loan can be a useful tool for property transactions, but it is important to consider the costs, terms, and your specific circumstances before making a decision. Seeking the advice of a financial advisor can help you make an informed decision.Click to Apply
Bridging Loan Fees
Generally the rate of interest is often charged monthly or daily. The interest is charged for the duration of the loan until it is repaid. Furthermore the rate of the Bridging Loan is determined by many factors. The key factors are the risk of the transaction and the security offered. In many cases a Bridging Loan is provided on a interest only basis. At the end of the term the loan will need to be repaid or refinanced. If your business requires funding then we can help you find the solution. We are experts when it comes to brokering the best deals for our clients. This includes bridging loans.Click to Apply
Finally why not contact us today, and see how we can help you? Speak with one of our experts on 0161 8211478 or complete the form below
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