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Fast Bridging Loans

Where time is a factor, fast-bridging loans can be a real lifesaver. The following case study shows just how useful our quick bridging loans can be when a major opportunity presents itself:

Last week, we were contacted by a broker whose client needed fast bridging finance within 24 hours to take advantage of a lucrative business opportunity. Their client had the chance to buy shares at a discounted rate in the company where he had worked for over 25 years, but the option had a deadline that was due the following day. The broker originally believed he had sourced finance elsewhere via another bridging lender, using two investment properties as security; however, at the very last minute, the first charge lender reneged on its decision to allow second charge consent, thus leaving the client without the urgent finance needed.


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At UK Bridging Loans, we fund all quick bridging finance deals using our own money and do not require first charge consent on every occasion, so we immediately knew that we could work around this problem. The issue then became one of speed, but as our system is highly streamlined, enabling us to progress cases at pace and with a high degree of flexibility, we knew we could help. We immediately examined the deal, completed due diligence, and provided indicative terms to the broker. All charges and conditions were included in the terms, allowing the broker to obtain acceptance after presenting the full facts to the client. We then worked late into the evening to finalise the loan documentation and emailed the client and his solicitor a copy of our formal offer, the legal paperwork, and the outstanding information needed before completion.

The client visited his solicitor the following morning to obtain legal advice and complete our short list of requirements before meeting with us at lunchtime. We accepted the previous lender's valuations as the figures fitted with our research and expectations. In many circumstances, we do not require formal valuations, so again, this was not a barrier to us completing the finance quickly. Our in-house team reviewed the documentation returned from the client's solicitors, and after some minor clarifications, his quick bridging loan was funded that very afternoon. To ensure we met the client's deadline, we paid the funds directly to the solicitors handling the share sale, which enabled the purchase to be completed that day, in time, and less than 24 hours after the initial broker contact.

The client's wealth has substantially increased due to the involvement of the team at UK Bridging Loans. Fast bridging finance is our speciality; we operate very differently from most other lenders and are therefore able to offer rare USPs. We don't claim to be the cheapest in the market, but we do get the job done swiftly, smoothly, and with minimal fuss.

For further information, please call 0116 3666338 or email contact@ukbridgingloans.uk.

Other ways we can help include 3rd charge bridging, charges on land (with or without planning), bridges for foreign nationals, adverse credit, 2nd charge bridges secured behind other bridging loans, etc.

How it works

get-in-touch
Get in touch

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.

home-valuation
Fast approval

An immediate yes or no answer is given, and if suitable, a quotation is formulated and forwarded to the client, usually by email.

fast-approval
Formal offer

A formal offer is produced for any client wishing to proceed and forwarded for signature, again, usually by email.

representative-visit
Representative visit

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.

underwriting
Dedicated underwriting

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.

access-funds
Payment of funds

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.

Who can use bridging finance?

people

Age

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”.

property-condition

Property conditions

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.

credit

Credit

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.

income

Income

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.

USP's

  • cloud Superfast completion, often within days
  • cloud Land, with or without planning
  • cloud 2nd charge (consent is not always required)
  • cloud Quick auction finance
  • cloud 3rd charge (consent is not always required)
  • cloud Adverse credit is considered
  • cloud 2nd charge behind the bridging lender
  • cloud 2nd charge behind the equity release lender
  • cloud Up to age 85
  • cloud Pure equity-based lending
  • cloud Residential and commercial
  • cloud Valuations are not always required
  • cloud Loans from £25,500
  • cloud A free legal option
  • cloud No monthly payments

Frequently asked questions

How fast can you get a bridging loan?
The typical timeframe for bridging loan completion is between 72 hours (3 days) and two weeks. However, this can vary depending on a number of factors, including the lender's processing speed, the complexity of the application, and the availability of funds.

Bridging loans are typically processed and funded much faster than traditional mortgages. In some cases, you could receive your funds within a few days of applying. This is because bridging lenders aim to provide quick access to funds for borrowers who need to bridge the gap between two property transactions or finance short-term projects.


What factors can impact the speed of a bridging loan?

Several factors can influence the processing time of a bridging loan application, including:


How can I ensure a faster bridging loan process?

You can do this by ensuring:


Do bridging loans require credit checks?

Yes, bridging lenders will conduct credit checks to assess your financial suitability for a loan. They will typically check your credit report, income, and employment history to determine your creditworthiness and ability to repay the loan. However, they may be more flexible than traditional mortgage lenders, and they may consider alternative factors such as the value of the property you're borrowing against and your intention to repay the loan quickly.

Bridging loan lenders typically perform credit checks on borrowers. This is because credit checks provide lenders with valuable information about a borrower's financial history and creditworthiness. Lenders can use this information to assess the borrower's risk profile and determine the interest rate and terms of the loan.

However, not all bridging loan lenders are the same. Some lenders may be more flexible with credit requirements, especially for borrowers who have a strong deposit or alternative collateral. Additionally, some lenders may offer pre-approval based on a soft credit check, which will not affect your credit score.

Bridging loan uses

Contact Details

pinBusiness Address: Office Block 2, Kibworth Business Park, Kibworth Harcourt, Leicestershire, LE8 0EX

callTelephone:  0116 366 6338

Opening Hours

Mon-Thurs: 9am-8.30pm

Fri: 9am-5pm

Sat: 10am-5pm

Sun: 11am-5pm


Open 7 Days a Week