What is a Bridging Loan
A bridging loan is a short term loan that can provide 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 where mortgage products are deemed not suitable 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 regulate) 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, sale of 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 along with our first class relationships with all of the main lenders and bridging distributors means 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 0.47%
- 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