What is a Bridging Loan
A bridging loan is a short-term loan that can be invaluable in emergency cashflow situations, such as fulfilling an urgent HMRC tax bill or saving a property chain from collapse. They're also particularly useful when mortgage products are deemed unsuitable to carry out renovations, conversion and refurbishments of properties where there is a requirement to turn around transactions quickly.
With a bridging loan, there is a maximum term of 24 months (12 months regulated), and you will need to provide the lender with a clear exit strategy. This might be by refinancing to a basic or buy-to-let mortgage, selling the property or other means.
Whether you're an experienced property developer or a complete novice, BuildStore's short-term funding team is on hand to offer one-to-one support to get your deal over the line quickly and make the process of arranging a bridging loan as simple as possible.
Our vast experience in the construction sector, and our first-class relationships with all of the main lenders and bridging distributors, mean we can find you the best deal for your requirements from a wide range of sources. At BuildStore, you can be sure you are in safe hands.
- Up to 75% LTV
- Minimum loan size £25,000
- No maximum loan size
- Minimum term - 1 month
- Maximum term - 24 months (12 months regulated)
- Rates from 0.41%
- No upfront fees
- First and second charge loans
- No age restrictions and not based on income
- Product availability in England, Wales and Scotland
- Straightforward, transparent and quick