Bridging Loans Jigsaw

Frequently Asked Questions

Get An Answer To The Most Frequently Asked Questions About Our Loans

Are you a genuine principal lender?

Yes, Bridging Loans Ltd is a principal lender - we are NOT a broker and if you apply direct to us you will pay no broker fee.

How much money can I borrow from Bridging Loans Ltd?

Our minimum bridging loan is 100,000; however we can look at lower amounts in specific cases. Our maximum loan is generally 400,000 although in the London area we can consider up to 750,000 on an individual basis.

What can my bridging loan be used for?

You may use the bridging funds for any legal purpose - business, personal or pleasure - as long as the security property is an investment / commercial property.

What is the monthly rate of interest?

Our interest rates start at 0.95% per month, and in some circumstances the interest can be rolled to the end of the loan. We do not require interim capital repayments, and if we are not able to roll the interest, the payments would be interest only until the bridging loan is redeemed.

What sort of property is required as security for the bridging loan?

We are able to lend on most types of commercial and residential property.

Do you lend to companies as well as individual borrowers?

Yes we can lend to limited companies and can use your business property as security for the loan to your company.

What is the charge for making an application for a bridging loan?

There is no charge for applications - we will give you a no obligation, free quote after considering your case.

What are the costs involved in the loan transaction?

A creation fee will be payable, but only once the bridging funds are drawn down. An arrangement fee may be payable. If you come to us direct you will not have to pay a broker fee.

How quickly can I receive the loan money?

We are often able to provide you with the bridging finance within a week, following a satisfactory valuation.

Am I able to make capital repayments or repay the bridging loan early?

Yes, if you wish you can repay your bridging loan at any time, subject to our minimum term of 3 months, or if you desire you can make capital contributions during the loan term in order to reduce the outstanding balance.

What if I have a poor credit history or CCJs (County Court Judgements)?

As long as the history can be explained and the amounts are not too high, this should not present a problem, we would merely require adequate security over your property and if you are unable to service the loan monthly, we may be able to roll the interest to the end of the loan term.

I am self employed and do not produce annual accounts - am I still eligible for a loan?

Yes, in most cases you may self certify your income as part of the bridging loan application.

Can I borrow money on a property which already has a mortgage or loan secured on it?

Yes, we can offer second charge bridging loans subject to the equity remaining on the property.

Is it only UK property or can I purchase foreign property e.g. a holiday home with my bridging loan?

Yes, but only by granting us security on property owned by you in the United Kingdom.

Do I need a solicitor?

Our solicitors can look after the legalities and bridging loan documentation, but we do ask borrowers to seek independent legal advice from their solicitor prior to completion of the loan.