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The bridging loan rate is the monthly or daily interest charged while the loan is outstanding i.e. before it is repaid. The rate can be determined by many factors such as whether the bridging loan is closed (guaranteed exit route for repayment of the loan) or open (less firm exit). Other aspects could be the size of the loan compared with the value of the property (this is known as Loan to Value or LTV), the type of security (residential property is currently a safer bet than commercial), whether the applicant has perfect credit, etc.

A common use for bridging finance is when an ideal property is put on the market for sale, but a client has yet to receive the money from the sale of their existing property. In this instance, a closed bridging loan is when the current property is on the market, sold and exchanged but has yet to complete. This loan will be looked at as a low risk for the lender as they will be confident of being repaid in the agreed time frame. If the existing property is yet to sell, this will be deemed as an open bridging loan. This bridging loan is viewed as a higher risk of guaranteed payment in the agreed time frame and as such may demand a higher interest rate from the lender.

Bridging Loans Available Through Us

Their criteria on bridging loans depends on which fund or lender they use. This means it is not possible to give accurate bridging loan rates and costs without speaking with you directly, however they can give you a guideline that will help you understand what is available within the market.

They offer the following bridging loan types:

Property Auction Finance

Land Bridging Finance

Residential Property Loan

Open Bridging Finance

Closed Bridging Finance

Commercial Bridging Loans

Bridging Loans For House Purchase

Useful links:

https://www.bridgingloans.co.uk/bridging-loan-calculator/

https://www.bridgingloans.co.uk/bridging-loan-types/

https://www.bridgingloans.co.uk/bridging-loan-uses/

UK Property Finance are a “Whole of Market”, Directly FCA Authorised & Regulated, Master Finance Broker specialising in Bridging Loans, Development Finance & Commercial Finance. Their “Whole of Market” broker status enables them to source the cheapest Bridging Loans & Development Loans from any lender in the market enabling to provide the very best of rates.

Their Bridging Loan, Development Finance & Commercial Finance proposition includes numerous unique & special offers.

We have arranged short term Bridging Loans and Development Loans in all areas of the UK, they can even provide bridging finance to purchase overseas properties and importantly their experienced and continuously highly trained broker staff are on hand daily, for extended hours. This enables your case to be quickly assessed and a formal YES or NO answer given to any Bridge Loan or Development Finance question within minutes.

Due to their many years of experience as cheap Bridging Loan & Development Finance brokers, they have a vast array of contacts and huge amounts of experience and as such are totally confident in saying that whatever your situation, if they can’t help, then it is highly unlikely that anyone else will!

Come to their stand (H139) to find out more on how they can find the best loan rates across the market.

URL: www.ukpropertyfinance.co.uk