Frequently Asked Questions
What is bridging finance?
Bridging finance, also known as bridging loans are a form of short-term finance and can be arranged very quickly. Bridging loans are generally secured against property or land.
How much can I borrow?
We can fund up to 80% of the property value and up to 100% of the purchase price. All lenders take a different approach and as a result the terms offered can vary.
If you’re looking to borrow more than the above parameters allow, talk to one of our advisors who may well be able to help, if you can provide additional security.
How long does it take to get a bridging loan?
Each lender will work to their own timescales. We have seen bridging loans complete on the day of application under extreme circumstances. In general, a term of 5-14 days is generally realistic for completion of a bridging finance application.
What type of security do you accept?
Our standard plans allow us to lend against the following property:
- Land (with or without planning)
We have lenders who can consider other security, such as luxury items, where needed. ABC Finance Ltd can also consider non-UK property through some of our specialist lending sources.
Do you offer bridging loans for people with adverse credit?
We work with lenders across the whole market and as such have numerous facilities available for clients who have historic, or even current adverse credit.
Do you charge upfront fees?
No, we never charge upfront fees on your application. We always work to ensure any lender or valuation fees are paid as late in the process as possible to ensure you aren’t at risk of spending money on unsuccessful applications.
Do you offer second charge bridging loans?
Yes, we can offer bridging loans on a 2nd, 3rd or even subsequent charge basis, provided there is sufficient equity in the property to support the loan.
Do you lend to limited companies and partnerships?
Yes, we offer most of our bridging loans to almost any kind of company structure.
Do you offer bridging loans for overseas applicants?
Yes, we can offer bridging loans to overseas applicants through UK Ltd company structures.
How quickly can you offer terms?
We can offer an agreement in principle within two hours, although we are usually able to supply them in under one hour.
Do I need to provide proof of income to secure a bridging loan?
This depends on the lender selected and the planned exit route. If you’re looking to avoid providing proof of income, let us know upfront and we’ll look to use a lender who doesn’t require this.