Broker Guide to Bridging Loans
Bridging Loans Explained
If you need to secure a loan quickly, could you benefit from a bridging loan? Find out more in our video guide! http://www.which4u.co.uk/loans/bridging-loans.
Bridging Loans Guide
Bridging loans guide What are bridging loans . Published on Wednesday 19 December 2018 . Bridging loans are a short-term funding option used to 'bridge' a gap between a debt coming due and the main line of credit becoming available. Or they can simply act as a short-term loan in pressing circumstances.
The market for bridging loans has grown steadily in recent years, especially in and around London, as borrowers try to complete property purchases quickly to secure their dream homes. Bridging ...
Bridging loans and bridging finance still cause some confusion among a lot of the people and businesses we speak to. This short guide explains the basics of what may be a very suitable finance product for your situation.
Bridging loans guide. Bridging loans are a short-term funding option. They are used to ‘bridge’ a gap between a debt coming due – and we’re talking primarily about property transactions, here – and the main line of credit becoming available.
In the world of property development bridging loans are often an extremely useful method of obtaining short term finance in order to either secure a property or refurbish with the intention of adding value.
Learn more about the specifics of bridging loans with our in-depth guides to help you find the best product for your circumstances.
In general, bridging lenders aren’t bothered about your personal income – so you can get a bridging loan even with low earnings Bridging lenders aren’t bothered about the rental income the property could produce (because it wouldn’t be unusual for the property to be empty for the whole term of the loan)
Commercial mortgages and bridging loans: First charge, up to 1% of the loan value, subject to a minimum of £999, plus £499 booking fee. Second charge, up to 1% of the loan value, subject to a minimum of £1,999, plus £499 booking fee.