We specialise in providing fast, easy access bridging loans to UK landlords.
We know that running a property business can be unpredictable. Whether you own just a single buy to let property, or have a large property portfolio, unexpected costs always arise. You may be expanding your business by buying another property at auction; if so you may need a bridging loan to pay for the property while you arrange a longer term finance solution.
You may wish to buy a new property and need some short term finance whilst you wait for another property to sell, or fund some property development; if so, a bridging loan would work. In fact, if you need additional funds for any reason at all, we’re here to provide the loan you need.
The loan amount can be tailored to suit your needs, and the term of the loan can range from 3 months up to a year. In addition, if you repay the loan early, there are no exit fees or redemption penalties!
We can provide first charge buy to let bridging loans up to £1,000,000.
We can provide first and second charge commercial bridging loans up to £250,000.
We can provide second charge buy to let bridging loans up to £500,000.
We can help landlords with a single buy to let property, or those with a large portfolio of BTL or commercial rental properties. We can also provide loans for Limited Companies as well as bridging finance for HMO’s (“House of Multiple Occupancy”).
But it’s not just landlords we can help. If you have a suitable asset and require short term credit, we are here to help you.
Whatever your circumstances, we specialise in helping customers just like you. Our commitment to providing the highest level of service possible, along with competitive loan rates and flexible terms, makes us a company you can trust to deliver the deal and loan you want.
A bridging loan is a short term, secured finance agreement that lets you borrow money using an asset such as a property as security.
Sometimes you need to raise money fast, but only require credit for a short period of time. Longer term financial agreements like mortgages can take longer to arrange, and are usually repaid over longer periods of time. In most cases, if you repay them early, you will be charged additional fees for doing so. This makes them far from ideal when it comes to short term financial solutions.
As a result, bridging loans were developed to allow you to borrow larger sums of money at short notice, but over shorter periods of time. This makes them ideal for situations such as purchasing property at auction, funding redevelopment projects or to fund the purchase of a new property without having to wait to sell another property.
Bridging loans require an asset to be used as security. This will usually be a property as they generally of a high enough value to cover the amounts of credit required. Lenders will need proof that a borrower has a plan for repaying the loan, known as an "exit strategy". Because the loan is secured, it is essential to ensure that you can have a viable exit strategy for repayment, as your property / home may be repossessed if you do not.
A "first charge" loan means that it is the first priority for repayment, should you fail to repay it and the asset used as security is taken in lieu. A "second charge loan" indicates that a higher priority, "first charge" loan is already secured against the asset / property (typically a mortgage), which should be repaid before the second charge loan, should the asset ever be repossessed.
Typically, if you are using a bridging loan to fully repay an existing mortgage, the bridging loan will be considered as "first charge", as the mortgage will have already been repaid, and no longer be using the property as security. If you are using the loan to fund an additional property, and a mortgage remains in place on the asset, then the bridging loan will be considered as "second charge".
If you are using the new property as security for the bridging loan, it will be considered as a "first charge" bridging loan, as no mortgage was in place at the time it was secured. It's important to note that if your loan uses both an existing and a new property as security, both could be at risk of repossession should you fail to repay the loan.
An "open" bridging loan means that there is no set end date for the loan, whereas a "closed bridging loan" will have a fixed date agreed for final repayment.
Open loans generally last for up to 12 months and can be repaid at any point as soon as you have the funds available. They are ideal if you do not have a set timescale for paying off the loan. Closed loans are ideal if you know exactly when you will have the funds available to repay the loan, such as an agreed mortgage start date.
All of our bridging loans are “open” loans to ensure that our customers have the highest degree of flexibility.
We aim to help absolutely everyone, however there are certain criteria that must be met in order to make a successful application:
Please note that in order to assess your application and provide you with an accurate quote, we will request further information from you on submission of your application. Calls may be recorded for training and monitoring purposes.