We are always asked similar questions from our customers and thought that it may be best to try and provide answers to these to make bridging loans as simple to understand as possible. Please contact us for more information or if you have any other query that is not covered by the below.
Bridging loans are available to almost anyone. This ranges from individuals, LLP’s, Limited Companies, SIPP’s, Offshore companies, Foreign nationals and overseas individuals, Trusts, Charities and also power of attorney.
Bridging loans are typically available between 1-24 months. Some lenders can offer up to 36 months but we would not recommend this as the cheapest finance option available over this length of term. Obviously circumstances will dictate the best advice here.
Bridging loans range from 0.45% per month to 2% per month. Individual circumstances will dictate the rate available to you.
Not necessarily, some of our lenders do not charge fees to set up a bridging loan and also do not have any exit fees. However their rates of interest on a monthly basis will not be the best available. We look at each case individually and will let you know the cheapest overall option available.
We have access to over 70+ lenders in the bridging market. This equates to over 220+ products.
Income proof or affordability is not an issue for most bridging lenders. Most of our bridging lenders will use rolled-up or retained interest which means that you do not need to make a monthly payment whilst the loan is outstanding.
We do not have an upper age limit, some of our lenders regularly lend to clients over the age of 90.
Yes, we have lenders that will consider all credit issues. This means that we can get you a bridging loan even with missed mortgage payments.