Bridging Loans

Short Term Bridging Loans from £250,000 to £10m

Bridging loans are no longer the poor relation in terms of property finance.

They are used for a multitude of reasons and their popularity is such that there are now over 150 bridging loan and development finance lenders in the UK.

The process of obtaining a loan is very simple, much more so than applying for a residential or Buy to Let mortgage.

Key points about a bridging loan

• Can be used for residential, commercial, industrial and agricultural purposes
• No proof of income required
• Adverse credit acceptable
• Loans from 3 months up to 24 months
• Can be used to buy a property under value. For example a property valued at £200k but being sold for £170k because the seller is in financial difficulty.
• Buying another house before you have sold your existing property
• Buying a property that traditional mortgage lenders would deem unmortgageable.
• Buying a piece of land, with or without planning permission

The process is as follows:

1. Enquiry received and assessed
2. After approval, a valuation is instructed
3. Solicitors are appointed and the borrower agrees to pay the lender’s lawyer via what is known as a legal undertaking
4. After the valuation report is received and is satisfactory and the legal process is fully completed, the loan can complete and funds will be deposited into the borrowers solicitors account

We will help you every step of the way to ensure the loan process is smooth and relatively stress free.

Email us at info@strettoncapital.co.uk for further details on how we can help you with your bridging loan requirements.