How Much Can I Borrow?
We are able to fund Re-bridging loans up to 75% loan to value (LTV), and can even lend up to 100% LTV with additional security. Funding starts from £25,000 with no maximum loan size.
How Much Will It Cost?
Depending on why the existing bridging loan needs re-bridging will have an impact on interest rate. If the re-bridge is wanted to save costs, a fairly low rate could be achieved whereas if the existing loan has come to the end of the term because the property hasn’t sold, the LTV could be restricted and a higher interest rate charged.
We can offer loans from 0.44% per month up to 55% LTV and can even lend at 0.64% per month at 75% LTV.
In addition to the monthly interest cost, lenders charge a lender arrangement fee – a fee for setting up the loan. This fee is usually 2% of the loan amount, although this is sometimes discounted as low as 1%, especially on larger loans.
How Long Do They Take To Complete?
Re-bridging loans can be completed in around 5 – 14 days if the property valuation and legal work is done quickly. If there is a deadline for completion you should tell us upfront so we can work to this timescale.
If you’re keen to secure the lowest rates, it might be worth allowing slightly longer for completion as the lender may want to undertake some additional checks.