Bridging Loans Explained
What is a Bridging Loan
A bridging loan is a short-term loan. It is a loan secured on your property - the security is given by way of a first or second legal charge over that property. You pay back (redeem) the original loan, the interest and the fees, in full, at the end of the agreed term (normally between 3-12 months) or earlier if you are able to. The reasons for requiring a Bridging Loan can vary enormously, but the underlying principle of the loan remains the same - you need the funding now and will pay the loan back, in the short term, once you sell your other assets.
Why use a Bridging Loan
The principle reason is to provide immediate cashflow to acquire investment property or provide funds for business purposes. If you have assets but not cashflow, sometimes you need funding quickly to seize an opportunity, settle a debt or purchase property while you can sell other assets. This is where a Bridging Loan from Bridging Link can be used to provide that necessary cashflow, and really quickly.
Our Business Explained
Bridging Link are experts in providing Bridging Loans and we are principle lenders, which means you are talking directly to the people who provide the funding. We know time is critical and you don't have time for long drawn out processes in order to get your funding. We aim to get your funds as quickly as possible - that's our mindset.
Bridging Link offers Bridging Loans from £25,000 to £1m and we lend up to 77.5% Loan to Value. Our interest costs and fees are very competitive, those terms married to our service standards make us what we believe to be the best provider of this type of finance in the UK today.