Bridging Finance Specialists
Providing the very best bridging loan deals
We are completely independent bridging finance specialists who have considerable experience arranging bridging loans throughout the UK.
As independent bridging finance brokers we have an extensive panel of lenders ranging from the large banks to small niche finance houses and private investors. There are currently over 140 short term finance providers lending within the UK, of which we only use the good ones!
Our vast experience allows us to accommodate a wide range of bridging requirements, and are always confident that we will find and provide the best possible deals, undercutting all other genuine offers.
- Bridging Loans from £100,000 to £1 billion
- Immediate in principle decisions
- 48 hour funding is possible (Normally 5 to 7 working days)
- Loan periods from 1 day to 36 months
- Best rates and all round deals
- We do not charge broker fees
- No application or commitment fees (Valuation fees are the only possible upfront cost)
- Flexible lending criteria
- Non UK residents
- All circumstances considered
- We cover the whole of the UK and many other parts of the World
All phone calls and emails are answered by experienced brokers who are always happy to provide quotes and answer any questions that you may have. We believe in ‘keeping it simple’ and want to help you anyway we can. Meetings can be arranged in central London at very short notice.
Retained, deferred and interest roll up facilities for bridging loans
Interest roll up facilities are available on most bridging loans, enabling the monthly interest charges for the whole term, or for a set period, to be added to the loan facility. This means that for these months no monthly interest payments need to be made.
Interest rates and other costs
The main cost incurred is the monthly rate of interest that is being charged. When compared to longer term finance options this monthly interest charge is high and is the main reason why bridging loans should only be intended as a short term finance option.
In addition to the monthly interest charge most bridging lenders charge a facility fee or arrangement fee. This is usually charged as a percentage of the loan amount, which is typically between 1 to 2 percent, and is usually added to the loan facility.
Some bridging lenders add an exit fee, which is charged as a percentage of the bridging loan amount. The vast majority of bridging loans that we arrange do not have exit fees.
Other costs would be legal fees which pay the lender’s solicitor to secure their charge at land registry on the property (or properties) being offered as security.
In the absence of a valuation report that is suitable for the lender one will need to be obtained. We will make sure that before requesting a valuation an acceptable bridging loan offer (subject to valuation) is in place. Valuation fees will need to be paid before a valuation is carried out.
Differences between open and closed bridging loans
A closed bridging loan refers to a facility that will be cleared on a specific date. This would typically apply to bridging loans that are going to be cleared from the proceeds received from the sale of a property for which contracts have been exchanged and a completion date set.
Closed bridging loans are a lower risk to lenders because they know exactly how and when they are going to be repaid.
In circumstances when bridging loans are required until a property has been sold but the sale date is unknown, these facilities are known as open bridging loans. Unless contracts have been exchanged a lender does not know when the loan will be repaid, and can only make an educated guess. This type of facility may have a time limit placed on it, but can be repaid anytime during this period.
About bridging loans
During the last couple of years bridging finance has experienced a year on year growth of close to 100 per cent. This has been due to:
- The stricter lending criteria imposed by other lenders, in particular the high street banks, which has made obtaining finance slower, more difficult or impossible.
- An increased demand for fast funds to facilitate the purchase of distressed and bargain priced properties available for a quick sale.
- Purchasing poor condition property to repair and sell on for a profit has become increasingly popular. The flexible lending criteria associated with bridging finance makes funding the purchase of this type of property possible.
- As more lenders have entered into the bridging market increased competition has brought bridging finance costs down. This has meant that more often when various finance facilities are available a bridging loan is increasingly becoming the cheapest option.
Bridging loans are becoming an increasingly popular form of short term loan because of their flexibility and larger lending amount. As bridging loan brokers, we can arrange a loan secured against a house, flat, shop, commercial unit, office or land for between £100,000 to £1 billion. With over 140 UK bridging loan lenders to choose from, we’ll help find the right bridging finance company for you, so you can be sure you’re in a secure position and won’t find yourself in trouble later down the line. Whatever your plan and situation, we’ll find the right solution.
Important consideration when thinking about taking out a bridging loan
Bridging loan calculator
By Neil Andrews
Bridging loans can be secured on
- Commercial Units
Flexible lending criteria
- Any purpose lending
- Bridging loans up to 80% LTV
- 100% purchase price possible
- Interest roll up facilities available
- Property in need of renovation
- Lending behind mortgages
- Most types of property construction
- Providing bridging loans nationwide
- Non UK residents
- Poor credit history
- No income proof
- Fast purchase of property and other opportunities
- Purchasing below market value properties
- Fast purchase for buying at auction
- Stopping repossesion
- Order fulfilment
- Short term cash flow solutions
- Conversion, refurbishment and restoration finance
- Development finance
- Business aquisitions
- Overseas property purchase
- Personal and business debt repayment
- Refinance an existing bridging loan
- Working capital
- Keeping place in a sale chain
“Very nice company with great customer service over-all”
“Very very helpful, nothing at all was too much trouble”
“Successful Loan Negotiation and Arrangement”
“Such a calming approach”
“Getting a house we fell in love with”
“Brilliant service from start to finish”