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If you're a UK homeowner and need funds fast then a bridging loan may be the perfect solution for you.
Bridging loans are intended as a short term funding solution for people who need money in a hurry and are available either as a 1st or even a 2nd charge on a property.
Our panel of bridging loan lenders consider all circumstances including homeowners with a bad credit history and self employed with no accounts or proof of income.
For the borrower, the benefits of bridging loans are many and varied:
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Considerably quicker and simpler to arrange than conventional residential mortgages, and with fewer formalities to complete, we aim to process applications for bridging loans within just 5 working days, and sometimes in as little as just 24 hours. |
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They enable borrowers to purchase an additional property even though their current property has not yet sold. |
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Perfect for a wide range of personal and business financial situations, including cash flow emergencies and quick turnarounds when buying, renovating and re-selling properties for profit. |
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Bridging loans are highly suitable as a quick method of exchanging contracts, winning contract races and as a fast means of completion, particularly when purchasing at auction. |
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For developers buying property with planning permission, bridging loans offer a practical way of making stage payments throughout the development period. |
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When purchasing residential property at undervalue, we can find lenders that will lend to a maximum of 85% of the current market value, or 100% of the purchase price, whichever is lower. |
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The loan will always be secured against a residential or commercial property or a plot of land, and a first or second charge will be taken against new or existing property, or a combination of both. |
Lending Guidelines Our aim is to complete your application in the shortest possible time with a minimum of fuss. If you have an application that is outside our standard terms, submit your enquiry to us so that we can either agree it as an exception or find a solution for you.
Acceptable security and LTV: N.B. In all cases we work from the vacant possession value of bricks and mortar only.
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First Charge |
Second Charge (less existing 1st charge redemption figure) |
Residential
(freehold/leasehold) |
80% OMV |
75% OMV |
Commercial/Semi Commercial (freehold/leasehold) |
75% OMV |
Unavailable> |
Renovation/Refurbishment (freehold/leasehold) |
65% OMV |
65% OMV |
Land outline planning permission |
55% OMV |
55% OMV |
Land detailed planning permission |
65% OMV |
65% OMV |
| Loan Size |
Minimum £25,000 - Maximum £5,000,000 |
| Loan Term |
From 3 to 36 months |
| Loan Purpose |
Any legal purpose |
| Borrower Type |
Any individual or Limited company.N.B.
1. The application must be in the same name(s) as the title documentation
2. If the application is in a company name all directors will be required to give personal guarantees for the full advance |
| Geographical Spread |
Loans available in England, Wales, mainland Scotland. |
| Leasehold Properties |
Minimum unexpired term of 50 years |
| Age Limit |
18-75 years |
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Contact Us Today for a free no obligation UK Bridging Loan Quote or
Call our our friendly UK based bridging loan advisers now on Freephone 0800 0778956
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