Bridging Loans Quick and Flexible

UK Property Finance Ltd is an FCA authorised, whole of market broker. We have established relationships with the most reputable lenders across the UK. This has given us access to the best deals and rates available. We are specialists in bridging finance. We can guarantee to partner our clients with the right lender to suit their unique requirements. Whatever your goals are, we will find the perfect bridging loan for you.

Speak today with one of our expert advisors to discuss the best solution for your situation.

What is a bridging loan?

Bridging finance is a short-term, secured loan that can be arranged quickly. A borrower can be approved in as little as a week! Borrowers have various reasons for applying for a bridging loan. Most commonly, bridging finance is used to bridge the gap between buying a new property and selling their current one – when there is a delay in the chain.

Watch our video: Bridging finance made easy!

How do bridging loans work?

Bridging finance allows you to unlock the value of a property by using its built-up equity as security. Unlike conventional mortgages or other secured loans, these facilities are arranged swiftly and often accept security that might be deemed unfit by traditional lenders, for instance, properties that are in disrepair or missing basic amenities like kitchens or bathrooms.

Bridging finance is intended for short-term needs, it’s not designed to be a long-term borrowing solution. In fact, its brief duration offers several unique benefits:

• Many options come without exit or early repayment charges.
• The application and approval process is notably fast.
• It accepts properties that might be unsuitable for other lenders due to their condition.
• interest can be rolled up and added to the loan.
• Verification of income or affordability is typically less stringent if exit of the loan is by sale of a property.
• Applicants with a less-than-perfect credit history are often not penalised.
• There are generally fewer restrictions regarding the borrower’s age.

This makes bridging finance a flexible tool for addressing immediate cash flow needs or seizing time-sensitive opportunities without the lengthy processes of standard loans.

For more information on bridging loans read our bridging finance guide
 

The bridging finance process

1. Initial enquiry – A short 5–10-minute conversation with an adviser to discuss your requirements. You will then receive a quotation which will outline the loan amount, and any interest or fees involved with the finance.

2. DIP – If you are happy with the initial quotation the next step is to get you approved with the lender. The adviser will take further information required so we can submit your case to the lender. If the lender is happy to proceed, they will provide a decision in principle.

3. Case submitted and valuation – Once the DIP is approved, there will be some documents to sign such as an application form and there will be ID requirements that will need to be satisfied. Once this is all received the case will be submitted to the lender for a full underwrite. This is usually the point the valuation will be instructed too.

4. Offer received – Once the full underwrite is complete and everything is satisfied, the lender will provide an offer. This is the point the lenders solicitor will liase with your solicitor to get the case completed.

5. Finance complete – As soon as the acting solicitors have all of their requirements met, the lender will release funds for completion.

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