A bridge loan is a short term finance option which can be made to an individual or company and secured against a residential or commercial property or plot of land.
Bridging finance is popular with landlords and property developers for funding short-term projects, and are becoming increasingly popular with home movers, as it can help you to buy a new property, whilst you are waiting to sell your existing home.
There are a number of potential benefits for clients including; quick arrangement time, which can be within 24 hours, daily interest rate and no early repayment charges (on some schemes) – great if you only need to have the loan for a short amount of time.
No credit checks are required for bridging loans. However, lenders will require a completed application form, proof of address, a form of identification, and a copy of your building insurance schedule noting the lender’s interest, which we can arrange for you.
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UPDATED 5/11: We are open like normal, although applications may be slower than usual due to third parties processing times. The good news is Mortgage Lenders are open and Valuers are still out valuing properties. Contact our team on 01268 931611 for any questions or updates.
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