What is a Re-Bridging Loan?
As the name suggests these type of loans are used to re finance an existing bridging loan and are often requested if for example a borrower’s existing loan is coming to an end or he/she finds a better interest rate. Finbud can help you find better rates to make this re-bridging loan a real opportunity for you to save and improve on what you had previously.
Latest Re-Bridging Loan Offers
View some of the latest offers from leading lenders.
Product BF01Apply Now
|Interest Rate 0.44%||Lender Fee 1.5%||Max LTV 55%||Max Term 18 Months||Min-Max Loan £100,000 - £250,000||Security Type Residential||Regulated? No|
Product BF02Apply Now
|Interest Rate 0.47%||Lender Fee 1%||Max LTV 50%||Max Term 18 Months||Min-Max Loan £250,000 - £50,000,000||Security Type Residential||Regulated? Yes|
Product BF03Apply Now
|Interest Rate 0.48%||Lender Fee 2.00%||Max LTV 50%||Max Term 12 Months||Min-Max Loan £250,000- £50,000,000||Security Type Residential||Regulated? Yes|
We can help you find your ideal re bridging deal with up to 75% loan to value and even possibly 100% if you are able to provide additional security.
There are many additional benefits in seeking a re-bridging loan such as:
- You can take any loan amount from £25,000 upwards and borrow from 1 to 24 months.
- Interest rate charges can be secured at 0.44% per month and the interest can be rolled into the loan.
- Properties in poor state of repair, or those requiring refurbishment or conversion will be accepted.
- Any security will be considered and those with adverse credit will also be considered
- Loans with no early repayment charges are also available and we will help you with any exit route.
- Loans available throughout the U.K.
What about interest rate charges and any other fees?
This will very much depend on why the current bridging loan you have needs re-bridging as this will impact on the interest rate charge.
Finbud can offer loans with an interest rate charge of 0.44% per month for up to 55% Loan to Value and even 0.64% per month at 75% Loan to Value.
In addition, lenders will charge a lender arrangement fee which can typically be 2% of the loan amount but sometimes this can be as low as 1% for larger loans.
Re-bridging loans can take up to two weeks to complete. If your priority lies in obtaining a lower interest rate then it might be worth allowing the lender more time to undertake further checks.
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