First Charge Bridging Loans

A first charge bridging loan is a loan where the lender has primary claim over the property if the loan isn't repaid, meaning they are the first to be paid in case of default.

The amount you can borrow depends on the property's value and the lender's criteria. Typically, you can borrow up to 75% of the property's value, with a deposit requirement of at least 25%.

Bridging loans are known for their speed, with some lenders offering funds within as little as 1-2 weeks, making them ideal for time-sensitive situations.

Bridging loans can be a good idea for urgent property purchases or renovations, but they come with higher interest rates and fees. It's important to have a clear exit strategy.

Bridging loans are typically more expensive than mortgages due to higher interest rates and fees, as they are designed for short-term use.

Yes, although some lenders might not offer it, you might be eligible to get a bridging loan with bad credit through us.

Yes, retirees can qualify for bridging loans, provided they have a solid exit strategy (such as the sale of property or obtaining another form of financing) and sufficient assets or income to cover repayments.

An exit strategy is your planned method for repaying a bridging loan. Its main purpose is to show your lender that you have a realistic and reliable way to settle the loan. Most lenders will assess your exit strategy to ensure you have a practical and achievable plan in place. Having a clear exit strategy is important because it minimises risk for both the borrower and the lender. It gives you direction and ensures the lender has confidence in your ability to repay the loan at the end of the agreed term.