A bridging loan can be the short-term solution to help you fund your next property move, or a convenient option when a repayment is due. So, if you need a loan to ‘bridge’ the gap between property payments, bridging loans could be the solution.
If you are buying a new home before selling your current property a bridging loan can take the stress out of your finances.
A bridging loan is a short-term loan which is used as a temporary loan until a more permanent finance can be secured. For example, if you want to do a property up by adding value to sell for a profit, most property developers would use a bridging loan.
We search for the right product to suit your financial circumstances, even if your credit history isn’t perfect.
We work with a preferred partner to bring you the very best deals available. We have the resources to help you find the right loan for you.
The amount you can borrow depends on the security you have to back it up with and the feasibility of your exit strategy. A viable exit strategy will involve either resale of the property – or else refinancing through a longer-term arrangement like a mortgage etc.
*To make sure we can offer the best possible service, our bridging loan products are provided by our preferred 3rd party partners.
Secured Loan Representative Example: If you borrow £15,000 over 10 years at an annual interest rate of 9.58% you would make 120 payments of £221.95 per month. The total amount repayable will be £26634.55 (This includes a lender fee of £595 and a broker fee of £1500 which have been added to the loan). Total charge for credit will be £11634.55. Overall cost for comparison is 12.773% APRC representative. The Personal Finance Centre is a leading broker and not a lender.
Rates from 6.95% APR. We have a range of plans and rates allowing us to help customers with a range of credit problems.
Your home may be repossessed if you do not keep up repayments on a mortgage or any other debt secured on it.
If you are thinking of consolidating existing borrowing you should be aware that you may be extending the term of the debt and increasing the total amount you repay.