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How Long Can I Have a Bridging Loan For?

First 4 Commercial > Uncategorised > How Long Can I Have a Bridging Loan For?

A bridging loan is a way to secure finance for any legal purpose over a fast, short period of time. For many people bridging finance is sought in a situation where they are looking to confirm the purchase of residential or commercial property prior to a mortgage being acquired in full.

At First4Commercial we have access to a wide variety of bridging loan lenders, and can provide you with extensive bridging finance in a short space of time, and at rates as little as 0.45% per month.

Our bridging loans are usually taken out over a period of between one month to 24-months. There are some cases where a lender will provide a bridging loan for up to 36-months, but there could be cheaper alternatives for a period of that length.

Whatever length of time you would like a bridging loan over you will always be asked to provide a solid ‘exit strategy’ prior to any agreement. This is a way of paying back the short-term loan. So, in the case of a property being purchased at auction and before a mortgage has been secured on said property, the exit strategy could be the sale of that property, either once it has been bought or after a redevelopment or refurbishment project.

Every single customer comes to us with a unique proposal and a unique experience. It is important to us that we provide a unique customer service experience, so with that in mind we ask you to contact our team today to find out more about bridging finance. You can do so by calling 01277 620 083 or by emailing info@first4commercial.com.

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