How Residential Bridging Loans Can Help
Bridging loans are available to individuals and are usually secured against one or multiple residential properties. These loans are typically quick to access and whilst they can be used for a whole multitude of reasons the borrower normally requires access to a large cash sum to enable them to take advantage of an opportunity.
An example of a residential loan is to avoid the break down of a property chain. Where your property chain has broken down and your buyer has pulled out, but you still want to go ahead securing your next property, a bridging loan can help bridge that gap in your finances until your other property sells.
Other uses include:
- IHT Loans (to pay inheritance tax or split amongst the beneficiaries prior to the estate being distributed)
- Divorce Loans (to payout to spouses where funds are needed prior to settlement)
- Cashflow (for multi-purpose use)
Residential Bridging Loans available from UK’s leading bridging loan lenders
We work with one of the top residential bridging loan specialists who help individuals, limited companies, SPV limited companies, and charities find the most competitive secured, short-term funding packages on the market.
We only arrange bridging loans, refurbishment finance, and development finance – these are our areas of expertise. The members of staff who work on your case have decades of collective experience in finding the right lender for each deal, no matter how simple or complex the funding structure.
In most cases, you'll receive a firm decision within 24 hours of supplying all the documentation and information we need to package your detail to our chosen partner lenders.
Do you require a residential bridging loans secured against multiple properties or other assets?
There are many niche residential bridging loan providers on our panel and they may be able to help you with as little as one day’s notice. Please get in touch.
What is a residential bridge loan?
- An unregulated residential bridging loan is a form of short term finance used to:
- purchase residential property
- purchase property requiring renovation or refurbishment which is intended for residential use
- raise capital
The bridging loan may be secured on the property being purchased or on any other assets of value including:
- residential property you or your family does not live in (for example, buy to lets and HMOs)
- commercial and semi-commercial property
- development land (with or without planning permission)
Residential bridging loans are not regulated by the Financial Conduct Authority if the property used as security is or will be your primary residential property. If you wish to use a bridging loan to purchase property you intend to live in, please click for more information on regulated bridging loans.
The standard term of a bridging loan is between 3 and 24 months. At the end of the term, the remaining principle (the amount of money you borrowed) and interest must be repaid in full.
Hundreds of customers successfully apply for a residential bridging loan through our services every year.
The main reasons for applying for a residential bridging loan through us include:
- Residential bridging loans for property developers
- New residential developments
Bridging loans are used to finance the planning, construction work, and completion of new residential developments. With this type of loan, you have up to two years (depending on the length of the term you agree with your lender) to finish the work and arrange your exit (when you pay back the loan).
If your intended construction project is particularly large or complex, benefit from speaking now with our development finance team.
Let us help you find the best residential bridging loan
We work with one of the UK’s leading specialist providers of residential bridging loans. If you need funding at short notice from an established lender at competitive rates, please contact our lending team straight away.
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