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We’re bridge finance experts. This means we know our stuff when it comes to loans! We know where the best rates are and have access to exclusive deals just for Lending Expert customers.
We’re not tied to one lender which means we can search the wider market to find you the cheapest loans from across the UK.
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If you have bad credit or have previously been refused finance we can consider your application. Whatever your circumstances please get in touch to see how Lending Expert can help.
Bridging loans are great for homeowners looking to bridge the gap between a house sale and purchase – or for property developers or auction buyers who are looking to make a quick purchase rather than going through lengthy mortgage applications or property chains.
Bridging loans are specifically designed to bridge the gap between one form of finance to another. They are usually a short-term solution for covering the period between the sale of one property and completion date on another – helping buyers meet a tight or strict deadline.
When you apply for bridging finance, you are able to get access to faster funding from challenger banks and private lenders, rather than traditional UK banks which often have a very long process and strict lending criteria.
Lending Expert works with the whole of the bridging market, helping you get the best rates and terms and maximising your chances of approval – simply click on ‘check eligibility’ to complete some details and we can provide a quote within 24 hours.
Using a bridging loan is all about the speed of funding – offering a simple alternative where applications are processed quickly and funds can be released within a matter of days.
Mortgages and bank loans could also be used for this purpose, however, they provide a much slower service as the applications are lengthy and funds take time to be released.
For the homeowner who needs to move to another house, but cannot sell their existing property, a bridging finance product allows you to secure the loan against your existing home and buy the new property. Once your original property is sold, you can use the money to pay off your loan. Simple.
For property developers, bridging is commonly used to complete a deal within a tight deadline. If you want to beat other buyers to the punch, this type of funding allows you to get approved and financed quickly. Bridging can also be used for investment or business purposes as a way to raise cash, provided that it is secured against a residential or commercial property.
Bridging loans come with only two distinctive requirements; to be a property owner and over 18 years of age. The loan amount is determined and guaranteed by the value of the property, so usual criteria such as income and credit history are not as crucial to bridging loan lenders.
A lot of bridging loan lenders will consider those with a bad credit history, CCJs and even previous defaults and arrears because they use the property as collateral. The property you are buying doesn’t even have to be in a good condition and can be in need of renovations and repairs, which makes bridging loans a perfect option for property developers.
If the full loan amount is not repaid at the end of the loan period, the lender can repossess and sell the property to repay the debt.
There is a strong case to use a bridging loans broker, such as Lending Expert, since we compare rates across the whole of the UK market, so you are not tied down with just one single lender.
A broker will listen to your requirements, discuss the different options and get quotes from a range of lenders so that you can make the best decision.
Simply request a quote or check your eligibility using our form provided.
Step 1 – Get in touch and submit information about your project
Step 2 – Get indicative terms, you can receive an Offer in Principle in just a few hours
Step 3 – Get a property valuation and undergo checks on your property
Step 4 – Complete the loan offer with your solicitors
Step 5 – Your funds are released
You can get started today with a no obligation bridging loan quote with Lending Expert in less than 5 minutes.
We work with a whole range of bridging lenders in London and the UK and can provide the most affordable rates and cater for different properties and requirements.
Our eligibility checker is free to use and our advisors are on hand, 7 days-a-week to answer your enquiries.
A bridging loan is a temporary loan until a more longer term solution can be found or arranged. This source of finance is often used in property transactions by landlords, developers, and those who buy property via an auction. Or for home movers when there is a gap between the sale and completion dates in a chain.
Bridging loans are typically used for between 3 to 24 months, with the option to repay in full at the end or refinance under new terms.
Yes. Bridging loans are secured against property, both residential, commercial and buy to let. They are secured on either a first or second charge basis.
Yes. Most lenders in the market place will be happy to provide a bridging loan secured on a buy to let property.
This simply means that the repayment date is 'open' and has not been set at the start of the loan. You will generally be expected to pay off an open bridging loan within the year. A closed loan has a set date in which the loan is to be repaid.
Yes. Lenders will can roll up the interest charges to be paid in a lump sum when you repay the capital of the loan at the end of the loan term.
Yes. Under most circumstances you will be required to show proof of earnings to demonstrate you can afford the loan repayments.
Yes. Like other loans are available for self employed people. You will however need to show proof of income either in the form of business accounts, or SA302 documents from HMRC that shows your taxable income for the financial year.
Yes. Bridging loans are available to older borrowers over 65, 70 or up to 80 years of age for some lenders. Since they are only for short term borrowing then your age is less of an issue to the lender. You will however, need to show proof of income and demonstrate how you will meet loan repayments for the duration of the loan.
Bridging lenders generally go to a maximum of 75% loan to value. However, this generally depends on the lenders appetite to risk and will be based on a case-by-case basis.
You will be required to pay for legal fees and a valuation. Other costs such as an arrangement fee or broker fee can be added to the loan.
As bridging loans are not a long term lending solution, the lender will need to check that you have an adequate way to pay off the loan, which is the 'exit route'. This is generally done by a property sale, or by means of a remortgage in the future for example.
Yes, bridging finance can be used to purchase land either residential or commercial land plots. If you find a plot of land you want then a bridge loan can be used to buy the land prior to planning persmission being obtained.
Yes, this can then be used to buy property abroad, or against the purchase of a property overseas.
Lending Expert can facilitate bridging loans for agricultural land, bungalows, care homes, chalets, converted barns, cottages, detached homes, farmhouses, guest houses, hotels, maisonettes, mid-terraced homes, offices, petrol garages, semi-detached homes, studio flats, terraces, townhouses and warehouses.
We cover bridging loans in London, Manchester, Liverpool, Birmingham, Leeds, Essex, South-West, Wales and Scotland.