The property industry moves fast and opportunities come and go in a matter of days. A bridging loan allows you to complete a quick purchase or to refinance an existing asset in a short period of time.

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What is a Bridging Loan?

A Bridging Loan is a type of short-term property backed loan. As with long term commercial mortgages, they are secured by a first or second charge against the property. As they are secured, then similar to long term loans, the same steps in terms of valuation and legal charge must be completed.

Bridging loans are designed to be arranged quickly and to run for a 1-24 month duration. There are different types of loans depending on what you need: 

  • Retained Interest – Interest is taken from the loan balance at the start of the term, with the option to pay back the balance at any time, usually with no exit penalties. Because interest payments are already taken from the loan balance, there are usually no affordability checks.
  • Serviced Interest – Interest is paid by the borrower on due dates. 

How a Bridging Loan can be used

Bridging loans can be used to help businesses bridge the gap between making a purchase and other funds becoming available. They can also be used in any of the following circumstances:

Bridging Finance Products

Residential Bridging Loans

Land finance

Amount
£100,000 – £25 million

Duration
Up to 36 months for non-regulated loans, 12 months for regulated loans

Interest Rate
From 0.44% per month

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Development Bridging Loans

developement finance

Amount
£100,000 – £25 million

Duration
Up to 36 months

Interest Rate
From 0.44% per month

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Commercial Bridging Loans

development finance

Amount
£100,000 – £25 million

Duration
Up to 36 months

Interest Rate
From 0.44% per month

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Key Benefits

Up to 100% Finance Available

Specialist Broker Team

Rates from 0.45% PM

Fast finance and quick decisions

To find out more call:

029 2166 0550

For more information about how Cornerstone Commercial Finance can help your business, speak to one of our expert advisers.

To get a quote for your business simply fill out a quick form and one of our advisers will get back to you.

Apply now