Halifax Bridging Loans

When should you consider using a bridging loan?

Besides needing to arrange funds for the purchase of a property before selling your existing property, you may find our bridging loan products suitable for the following situations:

• Purchasing a property at an auction
• Funding your real estate development project
• Alternatives to traditional funding when timing is essential
• Capitalising on real estate investment opportunities
• Expanding your commercial operations
• Refurbishing a residential or commercial property

Bridging loans are now used for a wide variety of reasons. Whatever your reason or financial situation, we can help you get the best rates and terms for your bridging loans using our calculator.

We can help you get financing with low income or no credit

When you attempt to obtain a traditional loan or mortgage, the lender will need to examine your financial background. They need to verify your income and review your credit history. These details may prevent some people from obtaining a standard mortgage.

With bridging loans, the most important criteria for determining eligibility is the property that you plan to use to secure the loan. At UK Property Finance, we can compare bridging loans and find flexible lenders who allow you to use almost any type of real estate property, including commercial buildings and building plots.

Along with your assets, lenders also need to consider how you intend to pay off the loan. This exit strategy is essential to qualifying for a typical bridging loan. For example, you may intend to pay off the loan after you sell an existing property or after obtaining a traditional mortgage. Whichever method you intend to use to pay off your bridging loan, we can help find the best bridging loan product for you.

Open bridging loans versus closed bridging loans

If you do not have a clear exit strategy, we may still be able to find a suitable bridging loan option. Closed bridging loans include a plan to pay off the debt. With an open bridging loan, borrowers are not required to define a clear exit strategy for their loan.

Keep in mind that an open bridging loan is sometimes more difficult to arrange due to the lack of a payment strategy. However, if you have the assets to secure the loan, we may still have a bridging loan product for you.

How quickly can you receive your funds?

As bridging loans are intended for short-term financing, you can expect to receive your funds quickly in most situations. You can often receive a decision within one to two days. A formal offer may be available in two weeks or less, while the completion of the loan and transfer of funds may occur within two to four weeks.

At UK Property Finance, we have years of experience helping borrowers obtain financing and have developed strong contacts with lenders throughout the UK. This allows us to process loans quickly to ensure that you get your funds faster than with other lenders, such as Halifax.

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