Bridging Finance Broker
Looking for a trusted bridging finance broker? one who has access to specialist lenders and can move fast?
What Is a Bridging Loan?
A bridging loan is a form of short term finance that is always secured against a property.
The type of property is very flexible. It could be a main residence, investment property, holiday home or a commercial property. It doesn’t even need to be in good condition!
The lenders that provide bridging finance tend to be specialist lenders that only work with bridging brokers. It’s quite hard to find a good bridging loan without having a broker work with you.
Bridging finance is only set-up for short periods, it is designed to be a temporary type of finance. Typically the terms would be 3 months up to 36 months.
There’s no monthly payments, the lender will expect you to pay back the loan in full, plus interest and costs, before the term expires.
How a bridging finance broker can help
Unless you have used a bridging loan before, a lot of the options and terminology can be confusing. The market and the availability can shift on a regular basis and few of the lenders are well known. The majority will only accept business from an experienced bridging loan broker.
How quickly can you get a bridging loan? is a commonly asked question and most loans can be formally agreed within 10-14 days.
Your broker will be able to look at what you need the money for and then develop an idea on the type of loan that best suits you. Bridging loans are extremely flexible and a broker will be able to tailor the various options based on what you need.
Depending on the property used as security you will either need a regulated or unregulated loan and your broker can help you to understand the difference.
Unlike mainstream mortgages, bridging loans are assessed by real people, so the contacts and relationships that comes with using an experienced bridging finance broker are invaluable.
Are bridging loans regulated by the FCA?
What are some common exit strategies for bridging loans?
Bridging Loans Guide
In this guide, we will provide an overview of bridging loans and offer some tips on how to get the best deal when looking for short term finance.
Bridging Loans
Bridging loans are a popular way to raise finance quickly and easily for a variety of purposes, including buying a new property before selling your old one, carrying out refurbishments, or even raising working capital for a business.
The benefits of a bridging finance broker
EXPERIENCE – The world of bridging finance bears almost no relation to ordinary mortgages. The structure, the options, the fees and the terminology are all different. By using an experienced broker you will ensure that the loan you apply for is the right one for you and that you will understand what you are committing to.
The relationships that a specialist broker builds with lenders is vital to getting a good deal and also having the lender fully understand your side of the story.
CHOICE – Your bridging finance broker should be independent of lenders and have access to them all. There are many, many short term bridging lenders that you will not have heard of. The market is quite competitive so your broker can figure out what’s best for you.
COST – You will have to pay a broker fee. But by using a broker you will have access to so many more deals that it could actually lower the cost of borrowing for you. Most people acknowledge that bridging loans are expensive, but let your broker find you the very best deal.
SPEED – Bridging loans are renowned for providing fast access to finance. If you have a specific timeframe that you need to work to then your broker will make sure you go with a lender that can meet this deadline.
IDEAS – Sometimes the answer to a particular problem or situation is not clear. Brokers are creative thinkers and problem solvers and so they will be able to suggest a plan of action. Did you know that a bridging loan can fund the VAT part of a commercial property purchase?
Finding an experienced bridging finance broker
As with any type of mortgage situation, the best option is for you to work with a broker that has experience of people like you and your situation.
Our service can put you in touch with one of the UK’s best known brokers, who have dedicated specialist advisers helping clients with their unique needs everyday.
They are, of course, an independent whole of market broker. They can collaborate with specialist lenders and private banks to build tailor made solutions for even the most complex of situations and work with clients across the UK.
CONTACT A MORTGAGE BROKER
If you are ready to take the next step then we can put you in touch with a fully qualified independent mortgage broker.
FAQ
Frequently Asked Questions
How much can I borrow?
Generally the limit is 75% of the property value, less any existing mortgages.
Can I get a second charge bridge loan?
Yes. Bridging loans can be setup as a first, second or even third charge.
Do your brokers charge a fee?
Yes, there is a brokers fee for the service. They will be able to clarify this with you on the first call.
Can a broker get me a 100% bridging loan?
This will only be possible where you have more than one property, a cross collateral bridge loan can then be secured across multiple assets.
Do I need to meet the bridging finance broker?
There is no need for an in person meeting. Our brokers will use telephone, email and video calls to get to know you and arrange your finance.
A wide range of mortgage options
LOOKING AFTER YOUR BORROWING NEEDS
Buy to let
Competitive buy to let mortgages that include options for SPV borrowing, purchase, remortgage or capital raise.
Holiday Let
Specialist advice for UK holiday let mortgages including Furnished Holiday Lets, Airbnb and mixed use properties. Solutions for purchase, remortgage and develop.
Moving Home
Take the stress out of finding a moving home mortgage by letting our brokers arrange that for you.
Second Homes
A second home mortgage will allow you to purchase a UK holiday home for you and your family to enjoy.
Remortgages
Time to remortgage? Switch your mortgage to a new lender and grab yourself a new interest rate at the same time.
Right to Buy
If you are a local authority tenant and want to buy the property you’re living in using the Right to Buy scheme, we can help you find the best mortgage deal.
Guarantor / JBSP
If you are struggling to qualify for the mortgage you need, or don’t have enough deposit, then perhaps a guarantor mortgage could help.
Just a small selection
of the 120 banks, building societies and specialist lenders that you could have access to.
Only an independent mortgage broker has the ability to search the whole of the market to get the best mortgage for their clients and their individual situation.
First Time Buyer
All the help you need getting onto the property ladder and buying your first home. Including a cracking mortgage deal, sourced just for you.
Equity Release
An equity release lifetime mortgage can provide a tax-free lump sum or ongoing sums of money that you can spend however you wish.
Specialist Mortgages
Multiple streams of income, employment status, size of mortgage or perhaps an unusual property? Let’s get to work…
Mortgage Guides
Our mortgage guides will help you understand and compare different mortgage products whether you’re starting out, moving, remortgaging or buying to let.
Insurance
Making sure you, your home and your mortgage are protected against the unexpected.
Mortgage Calculators
Our easy to use mortgage calculators can help you at every stage of your mortgage journey. From working out what you could borrow to calculating the Stamp Duty.
SPV Mortgages
Rather than buying an investment property in their own name, many investors are now choosing to do this through a Special Purpose Vehicle limited company, or SPV.
