Bridging loans
available with no proof of income. Non Status and can be used for any legal purpose,
with loans arranged usually in under 10 working days, and
in some situations in as little as 48Hours where legal
undertakings have already commenced.
Bridging Finance for quick short term property
funding
Do you need fast property
funding or cash to bridge a deal?Bridging Finance Loan
offers flexible short term property
funding from £30,000 up to £10 million for just one
day or up to 12 months.
Bridging Loans can be
arranged on a self certified basis with no documentary proof of
income, regardless of credit status and credit history. Contact
us today to discuss or enquire online below. The Bridging Loan
is designed for short term flexible funding
for virtually any situation requiring rapid
financing. Use a bridging loan to raise funds
for urgent aqusitions, legal transactions, business purchases,
or securing the purchase of another property.
A Bridging loan is
designed for short term finance secured
against residential property in place of a term mortgage or
conventional mortgage which would take too long to arrange or
where the property itself would not form good security for the
lender for mortgages purposes. Bridging loans (also
sometimes referred to as a gap loan or gap
mortgage) are typically used when purchasing a
property prior to the sale of an existing property has not
completed and situations where capital needs to be raised
quickly. Bridging finance many also be used in certain
circumstances to avoid bankruptcy, repossessions and clean up
mortgage arrears. Loans can be based on the current
open market valuation of the property, regardless of the actual
purchase price therefore property investors looking to finance
100% of the purchase price when buying at under market value is
therefore possible with bridging
finance.
Find out about bridging loan
criteria
Your bridging Loan could be
arranged in just a few days
Enquire about a
bridging loan online. Rates from just 0.75% per month and up to
100% purchase price where sufficient OMV.
Short Term Development
finance is available at up to 100% funding for
property developers and renovators. We can arrange finance for
up to 100% of the site purchase and 100% development cost with
interest roll up over the term of the project. Finance arranged
for residential, commercial, building
developments and land purchases for planning
gain or development. If you are interested in
renovation or property refurbishment for single property
turnaround for profit or BTL, you may also find our light refrubishment
mortgage as a viable alternative to bridging or
development finance.
For Landlords or developers purchasing
at Auction we can quickly arrange finance
to complete on a purchase even where the property is
unsuitable for mortgage purposes.
Talk to us Call: 0800
4969595
Bridging Finance General
Lending Criteria:
 Secured on UK property by first
or second charge. All Freehold properties considered
Leaseholds with over 55 years
Min Loan Size £30,000 to £10
Million.
Self Cert non status
funding
Non Status - Adverse or
impaired credit accepted
Loan to value (
Open Bridging ) 75% - 80% of valuation
LTV 70% advance of OMV Open
Bridge borrow more than purchase price
Loan to Value (Closed Bridging)
85% of valuation or 100% Purchse price
Interest rates from
just 0.85% per month (Daily Interest
calculation)
Interest Roll up or Interest
deduction from loan advance
No redemption penalties for
early repayment
Loan terms of 1 Day to
12months
Same day bridging arranged
where exit funds are available.
Get the finance you need in
just days
Development Finance to 100%
Land cost and 100% project cost
Apply online for a Bridging Loan
Find out about development
finance
Bridging Loan to raise capital on
property undergoing structural work. A Bridging
loan may be used to refinance or purchase a property
undergoing building works, renovations or structural
alterations where a traditional mortgage lender is unable to
offer a loan.
If you are purchasing at under market value then with a
bridging loan you can borrow against the
Market Value of the property irrespective of the purchase price
of a property.  Through our
well established panel of approved lenders we are able to
place your funding requirements to obtain the loan you
need in the given criteria. We consider your application
regardless to your financial history and credit standing,
so even if you have impaired credit such as CCJ's or
current mortgage arrears. Bridging
finance may therefore be utilised to 'clean up'
outstanding mortgage arrears in order to secure a new
remortgage to save the property from repossession. Funding
can be arranged with no proof of income at all on a
totally self certified basis with no
documentary evidence of personal or business income
required.
 Purchasing
unmodernised or discounted properties for development
or conversion: where the property is currently not in a
condition to be mortgaged, a bridging
loan can enable the property purchase to be
secured allowing for development or essential repairs to
be made to the property before it can be accepted as
security with a mortgage lender. For larger
residential or commercial developments, funding can be
arranged for both the land/site purchase and the development
renovation or build costs.
Bridging Finance: Short term
funding for all situations
Examples where bridging
finance can assist:
 Property purchase
for conversion and
renovations
Mortgage retentions - Purchasing a
property where the valuation report recommends a
part or full retention
Homeowners who have or are about to be
repossessed
Avoiding or Annulling bankruptcy or company
insolvency
Asset
in probate and inheritance tax
bill
Financing property at
auction
Business acquisitions and management buy outs /
Buy in
Acquiring property where a fast completion is
necessary
Quick turnarounds for buying
or renovating and re-selling properties for
profit.
Cash
flow emergencies such as unexpected VAT bills, tax
bills, business purposes
Raising legal costs & lawyers fees
or overseas medical
costs.
Use a Bridging Loans to fund the deposit on
property purchases
Property Discount equals instant Equity?
For purchasing property at below market value mortgage
lenders cannot not lend based against the open market
value, only the contracted purchase price. This means you still
need to fund the deposit. It is possible with a bridging loan
to finance 100% of the purchase price where
the open market property value is sufficiently greater than the
purchase price. Many investors use bridging to finance purchase
of discounted property to get the deal done quickly and without
using up cash in funding deposits. Typically these properties
would be quickly refinanced to a mortgage lender using the
market value of the property (also known as back to
back financing) However in the recent months following
the credit crunch these remortgage lenders
have quickly restricted lending criteria making 'back to
back' purchase and re-mortgage transactions very difficult
or not allowed inside of 6 months from the date of
purchase.
Planning Gain Finance up to 100%. We
can secure specialist funding for experienced property
investors looking to acquire land or sites with planning
potential. See Development
Finance for more information.
Get Approved for a bridging loan in
1hr Apply
Online 
View
case studies of using bridging loans
Bridging Loans for purchasing property at
auction
Case Study: Auction purchase
with bridging finance
A client
urgently needed to raise funds against an
unencumbered property, valued at £215k, to allow them
to make a down payment on a property purchased at
auction where their mortgage was declined.
They
asked us for assistance and we quickly arranged
a open bridging loan of £30,000 to
cover the auction deposit. Funds were arranged and
drawn down in 4 working days.
We arranged a BTL mortgage for the property at
auction to complete within 28 days, repaying the
bridging loan.
A Bridging loan can be used to profit from
opportunities
Apply online for a Bridging Loan
Case Study: Development
Purchase and Remortgage
A
property developer secured the purchase of a
freehold development of 8 purpose built
apartments below market value for
£1,350,000 from the local council. With capital
tied up in other developments he could not gain
finance from his existing bank to
purchase
We
arranged an open bridging loan facility of
£1,350,000 to purchase the flats outright, and
allow our client to finish the flats to a high
specification to be marketed. A remortgage
was also arranged for £1,520,000 formed
with two BTL lenders to repay the
bridging loan while new leases
were drawn up. This enabled each of
the flats to be sold individually on the uplift
in value.
Non property related purchases with a bridging
loan
Apply online for a Bridging Loan
Case Study: Purchase of a boat
mooring in Spain
We
recently arranged a second charge bridging
loan of £55,000 for our applicant who
urgently needed non status finance to secure the
purchase of a yacht mooring in southern Spain. Our
client could not remortgage due to time constraints,
the bridging loan was drawn down in just 10 working
days from application. A re-mortgage was arranged to
repay the bridging loan and refinance the home and
car loan.
Repairing credit problems and avoiding reposession
with a bridging loan
Apply online for a Bridging Loan
Case Study: Mortgage Arrears
Credit Repair Bridging loan
Credit Repair:
A Self Employed applicant
had 5 months current mortgage arrears on
his own home due to compounding financial
circumstances. There was no remortgage lender
prepaired to refinance the property with current
mortgage arrears. We arranged a non status bridging
loan to repay the existing lender including the
5 months interest charges, and pay the bridging loan
interest for the next 4 months. With the
mortgage arrears cleared and
with 3 months new mortgage history we were able
to re-mortgage the clients property to an
affordable mortgage product.
Apply online for a Bridging Loan
Bridging Glossary: Frequent terms used in bridging
finance
 Arrangement Fee: The lender
charge for arranging the loan or mortgage. Typically
this amounts to 1% of the loan amount and is deducted
from the loan advance on completion and drawdown of
funds.
BMV: Below market
value is a term often used with discounted property
purchases
Closed Bridging Loan:
Where there is a defined take out of the bridge where
the solicitor can give undertaking to repay the
bridging loan at the end of the term, such as a
with remortgage funds, exchange of contracts on a
property sale, or other contractual
agreement guaranteeing the repayment of the loan
on a defined date.
Daylight Bridging: A
bridging loan typically arranged for 1 day to purchase
a property while completing on a refinance to a term
mortgage.
Discounted Purchase
Price: Where the vendor offers the buyer a
discount off the purchase price to guarantee a quick
sale or other incentive. This may be from a family
member or existing landlord, or builder developer
discount.
Exit Route: the
method by which the loan will be repaid at the end of
the loan term, i.e. by remortgage funds, sale of a
property, business contracts, other asset maturity
where fund will be used to repay the
bridge.
First Charge
Bridging: A Bridging loan secured against the
property by first legal charge.
Interest Deduction:
Total interest payments for the bridging loan are
subtracted from the total loan advance on completion.
Many bridging lenders use this method of interest
payment with non status bridging.
Interest paid
monthly: Interest payments on the bridging
loan are serviced by the borrower on a month
by month basis.
Interest Roll Up:
Interest payments on the loan are added onto the loan
amount each month
Loan To Purchase
Price: Expressed as a percentage of the loan
amount to the contracted purchase price.
LTV: Loan to value
expressed as a percentage of the loan amount to be
borrowed to the professional valuation of the
property
OMV: Open Market
Value. The value of the property on the open
market.
Refinance Bridging: A
Bridging loan used for the purpose of refinancing an
existing mortgage facility for a short term for e.g.
while extensive works are being carried out in the
property or transferring the mortgage debt onto a
bridging loan to clear mortgage arrears before
refinancing to a new term mortgage lender.
Same Day Bridge: A
bridging loan facility arranged for one day to enable
completion of a property or other contract. Repayment
funds must be guaranteed with a solicitors undertaking
that redemption funds are available.
Second Charge
Bridging: A bridging loan secured against the
property by second legal charge in order that
urgent funds may be released without changing the
mortgage.
Take out: The proposed refinance or repayment of the
bridging loan. Also see Exit Route.
Vendor gifted
deposit: Typically where the property is
being sold at below the market value creating an
amount of 'free equity' in the property that the
purchaser may use instead of using a cash deposit.
Because a bridging loan can finance based on the
market value (not purchase price as with a mortgage)
the purchaser may finance upto 100% of the purchase
price or more in some cases with lending
based on a higher valuation.
Apply online for a Bridging Loan
Short term funding arranged on
all property types:
Residential Property (Main
Residence, BTL, HMO)
Residential
Developments. Also see Development Loans
Commercial Property
Commercial
Developments. Also see Commercial Development
Finance
Mixed use property
Offices
Buy to let Property and HMO
Investment Property
Retail Units
Land with and without planning
permission. Also see Planning Gain
Finance
Investment property
Purchases
Upto 100% Funding
available LTV based on market value
High Speed flexible
Bridging Finance for sensitive situations
Interest Roll-up, payment
deduction and payment deferred options
available.
Non status so all credit
status accepted (CCJ's, Defaults, Arrears Ok)
One day bridging
facilities for back to back property
transactions
Funds to your account in
days.
Complete our bridging finance form for a quotation
today
Are you searching for a fast
bridging finance or development
finance facility, we can help:
-
Urgent Short Term
Business finance
-
Purchase and development
finance for un-mortgageable property
-
Purchase of property
from auction
-
Short
term property development
funding
-
Prevent Bankruptcy or
Repossessions
-
Cover remortgage delays
or Legal/planning situations
-
Bridging loan and
remortgage for equity take out
-
Purchase of property
requiring split of deeds to mortgage
We have access
to specialist Bridging finance lenders who can
arrange funds and legal processes in a very short
space of time with all types of property
considered.
Call us today Freephone 0800 496
9595
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