Some Facts about Bridge Loans
Types of bridging loans
Common uses of a Bridge Loan
- Buying at auction
- Refurbishing a property
- Building a property
- Purchasing Land
- Purchasing a property that is not mortgageable (i.e. with no water or electric connected or not acceptable building construction)
- Divorce settlement
- Solving short term cash flow issues.
- Property flipping
- Business bridge to pay for Tax and VAT payments
- Funding of stock for your business
- Refinancing an existing lender
Benefits of a Bridge Loan
- Loans can be secured against various types of property including residential or commercial.
- Quick way to release capital/equity tied up in property
- Get the short-term loan of up to 85% LTV of your property’s value.
- Minimum criteria requirements to be able qualify for bridge i.e. No minimum income
- No/Minimum prior experience required
- Interest can paid monthly or deferred and added to the total loan to be paid at end.
- No early repayment charges as interest calculated daily
- Loans can be from as low as 0.4% per month
- Loans can be from £25k upwards and taken for 1 day up to 24 months
- Interest is fixed as per agreement
The cost of a Bridge Loan
Apart from interest, there are other associated costs;
Our Mortgage Calculators
We have a range of calculators to help make things simpler for you, from finding out how much you can borrow to calculating the impact of an interest rate change on your repayments. Have a go.
Use our bridging loan calculator to see how much you could borrow.
How much Stamp Duty will I pay?
Use our Stamp Duty Calculator to see how much you could be paying in stamp duty.
Required Documents Checklist
Use our custom checklist full of helpful tips and advice for people who are planning on buying their first home.