FAQs

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The following are the Frequently Asked Questions on getting Bridging Finance on various Properties in UK

Q. Am I able to borrow finance on a property on which I already have a mortgage/other charges?

A. Yes. We can obtain 2nd and 3rd Charges, subject to equity in your property.

Q. Can I apply if I am self employed and do not have a set of accounts?

A. Yes. Lenders are mainly interested in the security and exit.

Q. Can I convert my bridging loan into a longer term loan?

A. Yes. As Discount Mortgages are regulated we can offer buy to let or residential mortgages for your exit.

Q. Can I make capital reductions?

A. Yes, at any time. This will reduce the balance outstanding as well as your monthly repayments.

Q. Can I pay off my loan early?

A. You may pay off your loan at any time. If you took out a 6 month loan and interest was deducted in advance any interest not used will be refunded.

Q. Can I protect my loan repayments?

A. We can obtain life assurance on your loan if required.

Q. Can you help people with County Court Judgements (CCJs), arrears and/or adverse credit?

A. Yes we can but the rates start at 0.99% and most acceptable exits are sale of property.

Q. Do I need a solicitor?

A. Yes. Costs vary for each lender

Q. Do you lend to Limited Companies?

A. Yes and SPV inc off shore SPV

Q. How long will it be before I receive my funds?

A. Typically this take between 5 days and 2 weeks depending on your solicitors. Offers can be made same day subject to valuation.

Q. How much could I typically borrow?

A. Bridging loans are available from £25,000 – £50 million

Q. Is there a charge for making an application?

A. No

Q. What can I use the Bridging Finance loan for?

A. Your unregulated loan can be used for any business purpose

Q. What costs are involved in bridging finance?

A. £399 admin fee once case agreed by lender

£350 valuation fee subject to property value and location

2% lenders arrangement fee

£750 lenders solicitors fee subject to lender

Q. What is the monthly rate?

A. Interest rates start from 0.65% per month at 40% LTV

Q. What type of security can be lent against?

A. Lenders will lend on most types of residential, commercial or semi-commercial properties inc land.
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Bridging Finance 4u is a trading style of Discount Mortgages Ltd which is an appointed representative of The Right Mortgage Ltd and is authorised and regulated by the Financial Conduct Authority.
The guidance or advice contained within this website is subject to the UK regulatory regime and is therefore primarily targeted to customers in the UK.
Registered in England and Wales No. 05781378, Registered Address: 525E Hertford Road, Enfield, Middlesex, EN3 5UA.
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