A Bridging Loan is a loan to an individual or a company that can be taken out on a short-term basis, secured against a residential ⁄ commercial property or land, until such time as the property is sold or refinanced with a long-term lender. (We do not lend on security of the applicant’s home unless this is clearly for business purposes).
- A Bridging Loan is secured against property by way of a first legal charge. This could be a new purchase or a refinance.
- The term of a loan can be from 1 day up to 1 year.
- A bridging loan can be from £150,000.
- Terms and conditions are negotiable.
- Loans can be either open or closed. A Closed Bridge is when there is a guaranteed exit already established.
- With decisions in principal given within 24 hours and funding available as quickly as within 7 days.
- The money raised through a Bridging Loan can be used for any legal purpose