Bridging Loan FAQ's

How much money can I borrow?
Our minimum bridging loan is £10,000 and our maximum is £5,000,000, although
higher limits may be considered on an individual basis

What can I use my bridging loan for?
It can be used for any purpose – personal, business or pleasure

What is the monthly interest rate?
Interest rates vary on a case by case basis and start from 0.25% per month on daylight bridging, with interest-only payments until you redeem the bridging loan.

What type of property can be accepted as security for the bridging loan?
Bridging Loans can be secured on most types of residential and commercial properties

Can limited companies lend monies as well as individuals?
Yes, it is possible to use your business property or personal property as security for your business loan

How soon can I have the money?
A typical application can take from 1 to 10 days up when the monies are released

What if I have CCJ's or a poor credit history?
No problem – you merely need to provide adequate security over your property

Am I eligible if I am self employed and do not have a set of accounts?
Yes, you may self-certify the bridging loan application

Can I borrow on a property on which I already have a mortgage?
Yes, Second Charge Bridging Loans, subject to the amount of equity in the property are available

Can I purchase a foreign holiday home using my bridging loan?
Yes, but only by securing the bridging loan on property which you own in the UK

 

Do I need to make regular monthly payments?
No, an option is available to "roll-up" the interest and pay the total loan and accrued interest on the expiry of the agreement.

How long can I borrow the money for?
This will depend on the individual circumstances of your application but there is typically no minimum term but a maximum of 30yrs.

When I can expect to receive the funds?
It is possible for funds to be available within as little as 5 working days from receipt of your accepted offer.