Barclays Bridging Loan
Compare Barclays Bridging Rates With The UK Market
Compare Barclays Bridging Loan Rates With The UK Market
- Up to 80% LTV available on 1st charge; 75% on a 2nd charge
- Bridging Loans from £50,000 to £15 million (higher amounts are possible)
- Fast Completion – Call 0117 313 7499 if you need to move quickly!
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Why a Bridging Loan?
Bridging loans are very useful for short term finance and usually can be arranged very quickly. Bridging loan finance is suitable for acquiring property at auctions, funding the period between buying a new house and selling your old house, buying property for renovation and quick re-sale or other short term cash flow requirements.
Bridging Loan Information
- Typically you will have equity in your property such that total borrowings do not exceed 75-80% LTV (loan to value). You can get a higher LTV than this but you will need to offer additional security.
- You can be employed or self employed or in certain circumstances not working at all.
- Interest will be quoted and charged on a monthly basis.
- Typically there will be a completion fee for setting up the loan ranging between 1-2% of the loan as well as valuation and legal fees.
- The bridging loan term can range from 1 month to 12 months.
- The loan can be first or second charge on your property.
- at the end of the term loan can be converted into a residential or commercial mortgage.
- Bridging loans can be arranged for private individuals or companies.
- Loans available in England, Wales, Scotland and Northern Ireland (non regulated only)