What is a Bridging Loans to secure planning permission?
This is sometimes referred to as planning gain finance. Finbud can fund up to 85% of the current market value of the security property and provide loans from £25,000 up to £1 million.
Latest Bridging Loans to secure planning permission Offers
View some of the latest offers from leading lenders.
Product BF01Apply Now |
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|---|---|---|---|---|---|---|
| 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 - 2nd charge | Regulated? No |
Product BF02Apply Now |
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|---|---|---|---|---|---|---|
| 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 - 2nd charge | Regulated? Yes |
Product BF04Apply Now |
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|---|---|---|---|---|---|---|
| Interest Rate 0.54% | Lender Fee 1.5% | Max LTV 65% | Max Term 18 Months | Min-Max Loan £100,000 - £250,000 | Security Type Residential - 2nd charge | Regulated? No |
Key criteria is as follows:
- Loans can be provided for more than £25,000 and can provide up to 80% Loan to Value or 100% if additional security is provided.
- The term for borrowing can be any time from 1 month to 24 months.
- Interest rates can start at 0.44% and can be rolled into the loan
- Properties in poor state of repair, Refurbishment or conversion are all accepted
- Any security will be considered and adverse credit history will also be taken into account.
- Loans with no early repayment charges are available
- Loan are available throughout the U.K.
What are the interest rates charges, and are there any other fees?
This will depend on the actual site and the loan to value requested. This following table highlights the type of security, the Maximum Loan to Value and the Rates:
| Security | Max LTV | Rates From |
|---|---|---|
| Residential (Unregulated) | 80% | 0.44% |
| Residential (Regulated) | 70% | 0.49% |
| Commercial | 70% | 0.65% |
| Land With Planning | 65% | 0.75% |
| Land Without Planning | 50% | 1.00% |
The lender will charge a lender arrangement fee which is typically set at 2%.
Overall, where the valuation and Legal work has been carried out, this type of bridging loan can take anything from a few days to up to two weeks for a straightforward case.
