How Much Can I Borrow?
100% bridging loans usually work out at 70 – 75% of the open market value of a property. Although called 100% bridging loans, you can’t borrow 100% of the open market value unless there is another asset to use as extra security, this could be another property or a luxury asset such as a classic car.
We can arrange loans from £25,000, with no strict maximum loan. We have funding options to suit most people.
How Much Will It Cost?
We are able to secure 100% bridging loans from 0.49% per month for loans of £25,000 and above. Each lender’s criteria differs, therefore after a brief conversation we will have a good idea of which lender is best for you and they best rate they offer.
On top of the monthly interest rate, most lenders will charge an arrangement fee of between 1 – 2%, although this is usually 2%. In some cases, an exit fee will also be charged, although this is becoming increasingly rare.
We always source the whole market to make sure we find the best possible 100% bridging loan rates. We will always look to offer rates as close to the market leading rates mentioned above as possible.
How Long Do 100% Bridging Loans Take To Complete?
Generally, it is realistic to expect your loan to complete in 5 – 14 days. If a quicker completion is required please tell us from the outset as this could have an impact on our choice of lender.