Bridging Loans are defined as short term loans secured by property. The rates you pay are generally higher than for longer term loans, but Bridging Loans can often be used in situations that a Bank will not fund, for example against security of empty or “problem” property or when you cannot prove your income to the extent that a Bank would require.
Bridging loans can be sourced extremely quickly – sometimes in just a few days from first enquiry.
We have a panel of over 30 providers of bridging loans, both residential and commercial. Many of them specialise in their own niche for which they provide the best rates for that particular product. It is therefore essential to allow an independent provider of such loans locate the best bridging loan for your needs, as this can save you a fortune, plus substantial time and hassle.
Bridging loans can be used for almost anything, and to list all allowable uses would be impossible. Here are a few examples of where they can prove to be a valuable tool in the finance armoury.
- Quick completions on property purchases, including those at auction;
- Emergency cash flow for businesses;
- Payment of tax bills;
- Equity release from commercial and residential property;
- Completion of developments;
- Credit repair;
- Land acquisition;
Loans are available for up to 100% of a purchase price, and up to 85% of value of a residential property, depending on circumstances.
If you need a bridging loan, call Key Commercial Finance today to obtain the best terms in the market.