The Bridging Loans Option
A bridging loan is a great way to borrow money for a short period of time. Literally “bridging the gap” between finances, this loan does exactly what it says on the tin, and is a popular choice for many people who are looking for help with:
- Conversion of a property
- Cover mortgage delays
- For refurbishments or re-developments
- Settling tax liabilities
- Below market value purchases
- Auction finance
- Quick cash in the case of buying a new property before the old one is sold
- To provide a cash injection into a business
- To carry out essential repairs so that a property becomes eligible for mortgage lending
- Chain breaking
- Probate cases
Bridging loans are usually available for up to 12 months, however they can be offered for longer subject to the situation. Because of the short period of time they cover, the interest payable is low, but more expensive than other traditional forms of finances.
If you think that a bridging loan is the right option for your next venture, you may find our loan calculator to be helpful. This calculator will help you work out the likely costs you will have to pay on your bridging loan, as well as a calculation of other fees and the loan to value.
Speak to us today.
To get started on your bridging loan, fill out all the details on our form and get an instant result today or call the office on 0207 788 6627.