UK bridging loans are short-term loans much like a mortgage and are secured against property or land for any legal purpose.
It can be up to 80% against the current value of the property or 100% of the purchase price if you are buying under value, or with additional security.
Interest can either be rolled up (payable at the end of the bridging loan), or serviced (payable monthly). Terms can go up to 36 months!
Quicker to transact than a conventional mortgage, bridging loans can be used for;
A bridging exit is how you are going to repay the bridge. This is typically completed by rent on a buy to let property, sale of said property or by refinancing.
For more information please register your interest here and tell us what is it you are looking to do.
THINK CAREFULLY BEFORE SECURING DEBTS AGAINST YOUR HOME. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS MADE ON YOUR LOAN OR MORTGAGE.