Superfast Completion, Often Within Days
Land, With or Without Planning
2nd Charge (consent not always required)
Quick Auction Finance
3rd Charge (consent not always required)
Adverse Credit Considered
2nd Charge Behind Bridging Lender
2nd Charge Behind Equity Release Lender
Up to Age 85
Pure Equity Based Lending
Residential & Commercial
Valuations Not Always Required
Loans from £25,500
Free Legal Option
No monthly payments
A bridging loan is a shorter term loan than your usual loans and can provide immediate cash flow. The most popular use is to bridge the gap that when purchasing property and waiting to sell an existing one. Bridging loans are commonly utilised by individuals or businesses in the following scenarios:
Bridging loan mortgages differ from your standard mortgage offered on the High Street in terms of their shorter duration and higher interest rates. Bridging loans are usually repaid within 6 to 12 months. Borrowers are given the flexibility to either make monthly interest payments or settle the full interest amount at the end of the agreed loan term.
The below table shows examples of a 12-month bridging loan taken out at rate of 0.55%, and the repayment to be expected excluding any broker or other associated fees.
Clients approach UK Bridging loans either directly or via introducers. Basic questions by way of a “fact-finding” process are used by UK Bridging Loans to determine if the lending requirements are a possibility.
An immediate yes or no answer is given and if suitable, a quotation is formulated and forwarded to the client, usually by email.
A formal offer is produced for any client wishing to proceed and forwarded for signature, again, usually by email.
Each client is visited at the security address for signature of the remaining loan paperwork, including a CH1, land registry charging order. We will also collect any additional pre-requested documentation.
The signed documentation is immediately sent to our underwriters. Our model is based on very quick completions as each deal is funded using all of our own money. On rare occasions we may request additional information.
Average completion from initial acceptance to pay-out is usually just a few days. We rarely require valuations or additional legal representation. The land registry charge is removed once the bridging loan is repaid.
The applicant could be too old to obtain a standard high street mortgage as most mortgage lenders now prevent borrowing into what is deemed, “normal retirement age”.
The property may be in a condition where it is not suitable for mortgage finance and as such a Bridging Loan could be used to complete the purchase and any required work prior to refinancing.
The applicant may have some adverse credit, however minor, which was previously acceptable to lenders but now no longer fits the high street lending criteria.
The applicant may have difficulty proving income requirements needed for more regular finance. This may be due to poor self-employment records, a break from work or a reduction in self-employed workloads or overtime.
We offer quick turnaround with fast bridging loans and in cases will approve and get you the finance needed in 24 hours.
Funding provided for all manner of development needs, from light to heavy refurbishment or complete development build.
A bridging loan can be a good way to stop yourself falling into bankruptcy, given you an urgent cash injection when needed.
Business finance can be obtained through bridging finance and can be used for a variety of purposes for your business.
Consolidate your debts into one monthly payment by using a bridging loan to bring your finances back in to shape.
An unexpected tax bill can be a real strain on finances. Use bridging loans to pay your tax.
A bridging loan can be used to bring your mortgage out of arrears and stop the home from being repossessed in the process.
Our quick and easy bridging loan calculator can be used to easily identify the repayment on a bridging loan in just a few clicks.