Bridging Finance Broker London
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When you need a bridging loan, it is important to contact a specialised, professional bridging finance broker London – a broker can help you to obtain the lending that you might not otherwise be able to achieve, and they will be there to offer plenty of advice and guidance from the start to the end of the process.
If you want to borrow using a bridging loan, what are the criteria’s?
Firstly, the loan must be for more than £50,000. Technically there is no upper limit, but repayment capabilities will need to be taken into account no matter what lending is agreed, and borrowing more than you need is never a good idea.
Next, the term for repayment needs to be between one day and 36 months. Remember, the point of a bridging loan is that it is a short term loan to literally bridge a gap between funding, most often when buying a property. Therefore, the repayment terms are necessarily going to be shorter than those for a standard loan would be.
A bridging loan is going to require security; these are large sums of money that need to be paid back over short periods of time, and therefore a lender is unlikely to agree any loan without security in place. In most cases this will be property.
A bridging loan can be used for purchasing all kinds of properties from commercial to residential and including bungalows, flats, houses, and even land and parking spaces.
The state of the property in question does not matter. In fact, many people use a bridging loan to purchase a property that needs renovating, giving them the chance to get it in a fit state to live in or sell on. A bridging loan is not the same as a mortgage, so the quality of the property is not important.
You must be over the age of 18 to apply for a bridging loan.
As you can see, there are some strict criteria in place which is why speaking to a bridging finance broker London should always be the first thing you do. You can discover in advance how likely it is that you will be able to obtain the money, and get advice at the same time.
Bridging Loan Rates
Our bridging loan rates start from:0.65% pcm up to 60% ltv (1st Charge)
Residential & Commercial Bridging
Bridging Finance 4U are master brokers and packagers for all the leading bridging lenders and private funders in the UK.
Who We Are and What We Do
Bridging Finance in London, UK is usually used as an interim financing measure until permanent or ‘next stage’ financing is obtained. For example, the sale of an existing residential property may take longer than the required purchase deadline of a new property, bridging finance could therefore be used to bridge the period of time until your existing property is sold, at which point you may have the funds to pay off the bridging loan in full with the property sale proceeds or to use as a deposit to complete on a standard mortgage.
We can also offer finance for both Republic of Ireland and Northern Ireland. In some cases finance can be also obtained for prime locations in Europe for UK nationals whether living in the UK or overseas as an expat.
Why Choose Us?
Standard terms vary from lender to lender, but in general bridging finance is usually available for a period of between 1 and 24 months. It is sometimes possible to agree an extension beyond 24 months in some circumstances, but generally speaking bridging loans are meant as a short term financing measure, lasting months not a few years.
Instead of going to every lender on the market, just come to us, we do all the hard work for you. We have relationships with all the major lenders and private funders and speak directly to decision makers. Funds can be normally released between 3 and 10 days subject to legals.
We can usually obtain terms immediately and formal offers subject to valuation within 2 hours. If you are looking for speed and service then you have found the right company. Rates from 0.65% pcm but see our rates page for more info. We can also now lend on the value of Freeholds.
(Tailors property services)