What is Property Bridging Finance
Property bridging finance is a debt form that allows borrowers to make payments on their debts in the same way they would pay off their mortgage. In many cases, this can be done without the need for additional funds to cover the interest payments.
How does bridging finance work?
When it comes to bridging finance, what you're doing is taking a short-term loan from a bank and then paying the loan back with money from your business. This allows you to take advantage of lower interest rates on your business's loans.
How much does bridging finance cost?
To determine the cost of bridging finance, it’s important to understand its purpose. Bridging finance is a type of loan that allows you to pay off your existing mortgage loan and keep moving toward owning your home.
How do I apply for Bridging Finance?
To apply for bridging finance, you can go to the online enquiry form, please make sure that you all necessary documents with your application, and they may ask you some questions over the phone before approving your application.
Bridging Finance - How long?
In most cases, it takes about 6-8 weeks to close. This is the time required for you to get your preapproval letter, and then apply for a loan with your lender. Once you’ve received approval from your lender, they will send out their appraisal and documentation to their underwriting department. They will review everything, and take anywhere from 1 week to several months before they make arrangements for you to complete on the property.
Get in touch with our highly experienced bridging finance team today to discuss your bridging finance requirements, covering all of the UK.
Bridging Rates - Bridging Finance rates available from 0.4% per month.