Open 7 Days a WeekSame Day QuotationsExpert AdviceLoans behind other bridgesMarket Leading RatesFast completions, often within daysNo Monthly PaymentsAll situations and security consideredFree upfront service2nd and 3rd chargesLoans from £25.5K to MillionsConsolidating debts with a single affordable debt consolidation loan can significantly reduce immediate and long-term outgoings. However, debt consolidation is a facility only to be considered following the receipt of sound financial advice, as not all debt consolidation loans work in the same way.
If you are interested in debt consolidation or would like to discuss the options available in more detail, book your obligation-free consultation with UK Bridging Loans today.
Individuals, families, and businesses are frequently saddled with more debt than they can handle. Credit cards, personal loans, overdrafts, secured loans, auto finance, and other pleasures can quickly accumulate into serious debt.
If you find yourself unable to meet your repayment obligations, a debt consolidation loan can help you to regain control.
A debt consolidation loan pays down your existing obligations while replacing all (or most) of your prior loans, leaving you with only one to repay. The most significant advantage of a consolidation loan is the removal of several monthly payments in favour of one substantially cheaper monthly instalment.
If the interest rate payable on your consolidation loan is competitive, you also stand to save significantly on the long-term costs of your debts.
Contrary to popular belief, you don't have to be drowning in debt to benefit from a competitive consolidation loan. If you are currently repaying multiple debts of any kind at elevated rates of interest, you could make significant savings by consolidating your debts. Strategic debt consolidation can minimise monthly outgoings, free up additional cash, and make it much easier to stay on top of your finances. It can also help ensure you preserve your credit score from damage, which may otherwise occur if your debts spiral out of control.
By their nature, debt consolidation loans are a popular facility for individuals and businesses facing financial difficulties. This is why many of the UK's leading debt consolidation specialists are happy to accept applications from individuals with a poor credit history or even a history of bankruptcy. Debt consolidation loans for bad-credit applicants can be just as competitive as the conventional variety. The key to getting the best deal, irrespective of your circumstances, lies in conducting a comprehensive debt consolidation loan comparison with the help of an independent broker.
At UK Bridging Loans, we can help you choose the most appropriate option for a safe, simple, and manageable financial future. We specialise in debt consolidation loans with no credit checks required, which can be sourced from an extensive panel of specialist lenders across the UK or from our own funds. Use our convenient debt consolidation loan calculator for an overview of the available options, or call anytime for an obligation-free consultation.
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 the 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 was 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 will be 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 beyond what is deemed “normal retirement age”.
The property may be in a condition where it is not suitable for mortgage financing, and as such, a bridging loan could be used to complete the purchase and any required work prior to refinancing.
The applicant may have had 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 the income requirements needed for more regular financing. This may be due to poor self-employment records, a break from work, a reduction in self-employed workloads, or overtime.
Superfast completion, often within days
Land, with or without planning 2nd charge (consent is not always required) Quick auction finance 3rd charge (consent is not always required) Adverse credit is considered 2nd charge behind the bridging lender 2nd charge behind the equity release lender Up to age 85 Pure equity-based lending Residential and commercial Valuations are not always required Loans from £25,500 A free legal option No monthly paymentsDoes debt consolidation hurt your credit?
Debt consolidation can have a mild impact on your credit score in the short
term. This is because it will result in a hard credit check, which can temporarily
lower your score. However, the impact is typically not significant, and it can
be outweighed by the benefits of debt consolidation, such as lower interest
rates and a more manageable repayment plan.
Is it worth consolidating your debts?
Whether or not it is worth consolidating your debts depends on your individual
circumstances. Debt consolidation can be a good option if:
Is £20k in debt a lot?
The amount of debt that is considered "a lot" depends on your individual
circumstances. However, £20,000 is a significant amount of debt for many
people. It is important to be realistic about your ability to repay this amount,
and to seek help if you are struggling.
How much debt is normal in the UK?
The average UK household debt in 2023 is £50,000. This includes mortgage
debt, credit card debt, and other unsecured debt. However, it is important to
note that this is just an average, and some people have much more debt than
this.
We offer a quick turnaround with fast bridging loans, and in some cases, we will approve and get you the finances you need in 24 hours.
Funding is provided for all manner of development needs, from light to heavy refurbishment or a complete development build.
A bridging loan can be a good way to stop yourself from falling into bankruptcy, giving 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 into shape.
An unexpected tax bill could create a real strain on finances. Use bridging loans to pay your taxes.
A bridging loan can be used to take 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 repayments on a bridging loan with just a few clicks.
Bridging loans have risen to the forefront over the last 15 years, offering a dynamic solution to expedite buying a house.
Small Business loans come in a variety of formats and are tailored to specific sorts of enterprises and their needs. Contact us for help.
Business Address: Office Block 2, Kibworth Business Park, Kibworth Harcourt, Leicestershire, LE8 0EX
Telephone: 0116 366 6338
Email: contact@ukbridgingloans.uk
0116 366 6338
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