Getting You The Best Bridging Loan Deal Possible
0% Broker fees for straightforward loans above £150k
Get a no-obligation quote within 15 minutes over the phone
Borrow from £5k to £3m
Loan terms from 1 month to 24 months
Find The Best Fee-Free Bridging Finance For You
We know that when you’re in need of bridging finance, time is of the essence. Fill out the form below and you’ll be on your way to a fee-free bridging loan to cover your financial gap fast.
How Our Service Works
Getting the best bridging finance possible doesn’t need to be complicated
or cost you any money. Here’s how it works with our fee-free* bridging loan specialists.
Fill out a contact form or give us a call
Give us some quick details so we can get to know your unique finance needs.
We get to work
We take your details and start hunting through bridging finance lenders across the market. Because we’re an independent broker, we may even be able to access exclusive deals that aren’t available on the high street.
You get your funds
We take your details and start hunting through bridging finance lenders across the market. Because we’re an independent broker, we may even be able to access exclusive deals that aren’t available on the high street.
All About Bridging Loans
What Is A Bridging Loan
Think of bridging finance as a short-term fix to help bridge the gap when you’re in a bind. Whether you need the funds for a few weeks or up to 24 months, a bridging loan acts like a temporary mortgage secured against your property.
Just like with a traditional mortgage, you’ll need a deposit or some equity in your property if you’re refinancing. Some lenders might let you use the equity from other properties you own as part of your deposit, which can help lower the amount of cash you need upfront.
There are usually lender fees when you start the loan, and you’ll be charged interest while you have the money. But don’t worry! We’re here to guide you through every step and make it hassle-free!
What is a bridging loan used for?
Originally, bridging loans were used for homeowners who were selling their old home and buying a new one, but now, bridging loans can be used in a few different ways:
- If the sale of your current home falls through, bridging finance can fill that sudden financial gap, so you don’t have to break the chain and miss out on your next property.
- When you come across a once-in-a-lifetime opportunity or a fantastic deal that just can’t wait, a bridging loan means you can close the deal fast, without the long wait that comes from a traditional mortgage.
- Properties bought at auction usually require full payment within 28 days, so a bridging loan is perfect for quickly raising funds.
- If you purchase a property that’s in dire need of some TLC, you may not be able to secure a traditional mortgage. Bridging finance can help you get the funds you need to bring your vision to life.
- If you already own a property with significant equity and you’re eyeing up a second home, a 2nd charge bridging loan can sit behind your existing mortgage, allowing you to raise funds quickly without disturbing your primary lending arrangement.
Bridging finance offers flexibility and speed, making it an excellent choice for a variety of property financing needs.
How does a bridging loan work?
When you take out a bridging loan, you’ll borrow the money needed to fund your purchase for periods typically ranging from a couple of weeks up to 24 months.
Because they’re so flexible and quick to arrange, bridging loans usually come with a higher interest rate compared to traditional mortgages. It’s a trade-off for speed and convenience, making bridging loans a bit pricier but incredibly useful in the right situations.
Just like any type of finance, you’ll also need to have a repayment plan in place. Most borrowers either refinance, remortgage, or sell the property to pay back the loan. Some might even have other funds coming in that can be used to settle the balance.
Just keep in mind, the loan is secured against the property you’re buying, so it’s important to stick to your repayment plan to avoid any risk of losing your new home.
Can you use a bridging loan for a deposit?
Yes! If you’re finding it tough to gather enough for a deposit, a bridging loan could be just the ticket. Designed to ‘bridge the gap’ between property transactions, these loans are perfect for giving you the financial wiggle room you need when timing is tight.
That’s why property investors find bridging loans particularly handy. If you’re waiting on planning permission, stuck in sales delays, or facing unexpected project interruptions, a bridging loan keeps your cash flow going and helps consolidate your borrowing until things smooth out.
How much does bridging finance cost?
Bridging loans are short-term solutions, and they generally have higher interest rates than standard residential mortgages. These rates are calculated monthly, not annually, and can vary from as low as 0.39% to as high as 1.5% per month, depending on your lender.
Besides the interest, there are a few extra costs to keep in mind. You might encounter a product fee and an exit fee, which is charged if you manage to repay and close the loan ahead of schedule. However, settling the loan early usually means you’ll save on interest, making it a potentially cost-effective move.
When it comes to interest payments, lenders often charge this upfront, deducting the anticipated interest from your loan amount right at the beginning. If you repay your loan early, they’ll refund any interest overpaid. This setup is known as retained interest. Alternatively, some lenders might allow you to make monthly interest payments, although this option is less common.
Are bridging loans worth it?
They definitely can be! While all types of borrowing come with risk, bridging loans are designed to be a fantastic short-term option for those moments when you need a financial bridge.
Whether you’re caught between property deals, waiting on traditional financing, or just need a quick influx of cash to seize an opportunity, a bridging loan can provide the solution you need without the long wait.
Just be sure to consider your ability to repay the loan within the short term and plan accordingly to mitigate any risks.
How much do you charge me to find and complete a bridging loan?
Most of the time, we don’t charge a fee for brokering a bridging loan. We believe in keeping things straightforward and affordable for you. However, for loans below £150,000, we might need to charge a fee. But don’t worry; we’ll always let you know right from our first conversation if any fees will be involved.
Our transparency means you’ll never be caught off guard, and you can plan your finances with clarity.
What's the minimum and maximum bridging loan size?
When it comes to the maximum loan size, there isn’t really an upward limit! The amount you can borrow mainly depends on the value of the property you’re securing the loan against.
As for the minimum loan size, this can vary depending on the lender, but it generally starts at around £25,001. Each lender has their own criteria, so we’ll help you navigate this and find the best fit for your financial needs.
How quickly can we obtain funds?
Normally, it takes about two weeks to receive a formal offer to lend, and another two weeks to complete the process. But we’ve had cases where we were able to wrap things up much quicker!
If you’re on a tight schedule, just let us know. We’ll take your deadlines into account and tailor our recommendations accordingly.
What type of property can lenders use as security?
Because we’ve got access to the whole market, we can usually find a lender that will suit your needs. The range of properties that can serve as collateral includes residential, commercial, semi-commercial properties, HMOs, and even blocks of flats. The possibilities are extensive, so you’re likely to find an option that suits your needs.
Do I save cash if I repay the loan early?
In most cases, yes! Most of the loans we find calculate interest monthly, which means if you repay your loan early, the total amount you pay back could be less than initially planned. Plus, we make sure there are no hidden penalties or extra fees for early repayment. This means you can refinance or sell your property and clear your loan without any unnecessary costs, keeping things simple and cost-effective for you.
Why Choose Us?
Securing bridging finance can be daunting, but that's where we step in. We can handle the tedious paperwork as well as liaise with lenders and solicitors, so you can focus on what's truly important — your next property.
Expert Guidance
Every Step Of The Way
Bridging loans usually come with complex requirements and intricate repayment terms, and that’s why informed guidance is crucial. As specialist bridging loan brokers and finance advisors, we’re here to walk you through every step of the process. We break down the details and help you access the best-suited product for your needs, so that you're never in the dark about what you’re agreeing to.
Tailored Financial Solutions
With our market insights, rigorous research, and dedicated professional guidance, we work hard to find you the right financial solution. Expect better bridging loan interest rates and optimal terms tailored specifically for you and your property portfolio.
Fee-Free Financing*
Experience the peace of mind that comes with no hidden broker fees. Our services are transparent, focusing on providing you with value and support without extra costs.
Brokers Who Care
Choosing us means partnering with someone who cares. We’re not a large, impersonal corporation; we’re an independent mortgage specialist, by your side every step of the way.