Bridging Loan FAQs
What is a Bridging Loan and how do they work?
Sometimes you need liquidity to function and a property bridging loan can provide you with capital quickly over a relatively short period of time. A bridging loan is a short-term, interest-only loan, usually for a period of 12 months or less, secured against land or property. Find out more.
When to use a bridging loan for your residential or commercial property?
A bridging loan can be useful in raising capital for any legal purpose, but in typical circumstances borrowers can obtain a bridging loan for the purposes of:
- Buying to let
- Auction property purchases
- Development or refurbishment to get a property to acceptable condition to mortgage
- Houses of multiple occupancy (HMO)
- Borrow against value rather than purchase price
- Raising debt secured against two or more properties with equity
Who is eligible?
BiG Property Finance will consider any business or individual that is a property owner. We can provide a quick decision and expedite a loan completion as we don’t carry out time consuming credit checks. Read more information about bridging loan criteria and eligibility.
How much does a bridging loan cost?
Bridging finance is generally more expensive than a conventional mortgage but, if it is the only option between you and achieving your goal, it could be a price worth paying. It may not be as expensive as you think; see more information about bridging loan costs.