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Bridging Loans

Deedle can help you get a Bridging Loan today! Borrow £50,000 to £25 million, with repayment options ranging from 3 to 24 months. We act as a bridging loan broker, sourcing competitive rates in London, UK, Scotland and Wales.

LTV options are up to 75% (for regulated bridging loan) and 80% (for non regulated), and rates start at 0.44% per month. Better yet, all credit scores are considered! To get a free quote for UK bridging loans, fill in our form to speak to an advisor today.

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How To Get A Bridging Loan in 4 Simple Steps

Step 1
Enquire Today
Enquire today via our contact form. A dedicated member of the team will then get in touch, and ask you some key questions such as how much would you like to borrow and how long for. They will also ask for some details about the property, including its location, current value and your plans for it.
Step 2
Receive An Offer
The bridging loan lender will then provide you with an Offer In Principle within a few hours. This will outline the terms they are willing to lend on, including the best rates possible, subject to further checks and a property valuation completed by a RICS surveyor. A valuation can often be completed within 1 week.
Step 3
Complete With Solicitors
The next step involves the lender sending your solicitor their list of necessary requirements. If the valuation and the other documents have come back in good standing, then the team can issue you with a mortgage deed to sign on the same day! We pride ourselves in offering an efficient service.

Step 4
Funds Are Released
As soon as the solicitors have received the requested documents, the lender will be ready to proceed with your bridging loan. The application should be completed from start to finish within 2 to 4 weeks, or sometimes even sooner depending on the situation, and the funds will be released accordingly.

What Is A Bridging Loan?

A bridging loan is a short term financing option that provides borrowers with quick access to funds to facilitate property transactions, offering flexibility and convenience during transitional periods. Bridging loans are typically used by property developers, homeowners, landlords and investors to complete on a property within a tight deadline, for instance for those looking to make a quick sale on a popular property or trying to purchase a property at auction.

If you do not want to wait several weeks or months for a mortgage application to be processed, individuals can apply for a bridging loan and receive the money in one lump sum within 2 to 4 weeks, or sometimes even sooner. This type of loan typically lasts from 3 to 24 months, and both residential and commercial bridging loans are available.

If you are looking for a bridging loan broker near me, then Deedle can help. We connect applicants to lenders who can offer competitive rates. So whether you need a bridging loan in Kent, London, Essex, Bath, Somerset, Yorkshire or anywhere else, then get in touch today!

bridging-loan-example

Can You Give A Bridging Loan Example?

Let’s say your house is worth £200,000 and you have an outstanding mortgage of £100,000. You then decide you want to move to a £400,000 home quickly but you will not be able to get a mortgage within a few weeks or sell your existing home in time. In this case, you may wish to get a bridging loan to cover the gap, allowing you to acquire the new property quickly and then clear your debts when your original house is sold.

If this sounds like something you would like to do, we are a bridging loan broker who can help you today! Simply enquire on our contact form to get started.

What Are Examples Of When To Use A Bridging Loan?

Example 1: Bridging Loan To Buy A House

Bridging loans for a house purchase can be a useful option when an individual has not sold their home yet but is desperate to complete on a new property or they otherwise risk losing it. In this case, a quick bridging loan allows the homebuyer to get access to the funds that they need in a short period of time, enabling them to complete on the property. They can then repay back the loan when their home eventually sells.

Example 2: Bridging Loan For Property Development

Bridging loans can be beneficial for property developers who see a property or block of flats they wish to refurbish and sell on at a higher price. Rather than going through the lengthy process of a mortgage application, they can borrow quick funds through a bridging loan within 4 weeks and complete very quickly. When they decide to sell the renovated property at its higher value, they can then repay back the loan and make a substantial profit.

Example 3: For Raising Finance

Those with a ‘first charge’, i.e. an existing bridging loan or mortgage, may wish to raise further finance for an investment opportunity such as developing another property or putting money into a business. Any equity left over can be used for another loan, i.e. a ‘second charge.’ As a bridging finance broker, we can help facilitate finance for many different projects including for bungalows, care homes, converted barns, cottages, farmhouses, homes, hotels, offices, petrol stations, studio flats and more.

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Where Can I Get Bridging Loans?

We can help you secure bridging loans across the UK. Areas include but are not limited to bridging loans in:

  • Bath
  • Birmingham
  • Bristol
  • Cardiff
  • Dorset
  • East London
  • Essex
  • Glasgow
  • Hertfordshire
  • Leeds
  • Liverpool
  • Manchester
  • Nottingham
  • Scotland
  • Sheffield
  • Somerset
  • Southampton
  • Warwick
  • Westminster
  • Yorkshire

why-use-deedle

Why Should I Use Deedle?

As a bridging finance broker in London and the rest of the UK (England, Scotland & Wales), our team have access to competitive rates from from a range of bridging lenders, private institutions and challenger banks. Our team offer renowned customer service and will endeavour to find a competitive quote to fulfil your borrowing needs.

Whether you are looking for cheap bridging loans or to receive the funds quickly, we are here to help you. We pride ourselves in being the best bridging loan broker and can help you to explore all options to ensure that we meet your borrowing requirements.

What Is The Bridging Loan Criteria?

To qualify for a bridging loan you must:

  • Borrow a minimum of £50,000
  • Be based in the UK, Scotland or Wales
  • Be over 18 years old
  • Have an exit strategy

Residential, commercial, mixed properties and HMOs are all considered. Before proceeding, every property is subject to a valuation which is completed by a RICS surveyor.

All credit histories are also considered as we can source non status bridging loans, with lenders who are willing to take a view on borrowers with adverse credit histories and no proof of income. They can focus on the potential value of the property and your plans. We recommend making sure that you have a clear plan in place, an indication of costs and an exist strategy as this will all help with getting your application approved for funding.

How Much Does A Bridging Loan Cost?

The fees for bridging loans will vary as it all depends on the property in question. However, the typical bridging loan costs involved are:

Fee  Charged By
Interest Rate The lender
Arrangement Fee The lender
Valuation Fees The surveyor
Legal Fees The solicitor
Broker Fees The introducer
Exit Fees The lender if leave early

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Frequently Asked Questions About Bridging Loans

How Does A Bridging Loan Work?

With Deedle, customers looking for a bridging loan can apply to borrow £50,000 to £25 million, or even more on request. Our bridging lenders in London and beyond can offer a loan-to-value of up to 75% depending on the property, growth potential and exit strategy.

We accept enquiries for bridging finance in London, Birmingham, Manchester, Leeds, Liverpool and most other areas in the UK, including Scotland and Wales. Unfortunately we cannot facilitate bridging loans in Ireland.

What Are Some Alternatives To Bridging Loans?

Alternatives to a bridging loan include development finance or mezzanine finance. You can speak to our dedicated advisors to find out which product best suits your borrowing needs.

Do You Offer Quick Bridging Loans?

Yes, Deedle can arrange fast bridging loans for you. Funds can typically be released within 2 to 4 weeks; however this can be achieved sooner depending on the project in hand. Get in touch today to find out how long does a bridging loan take for your requirements!

How Do Repayments Work?

Repayments for bridging loans is simple. You will be charged interest each month that the loan is open. This can be paid back each month or you can ‘roll up’ the repayments until the end of the loan term and pay the full amount upon the sale, exit or when you have refinanced under a longer term loan.

What Happens If I Can't Repay My Bridging Loan?

If you are unable to repay back the bridging loan at the end of the loan term, you can look to ‘re-bridge’ or refinance under different terms with the same or a different lender, depending on their risk-appetite. You may wish to switch to a longer term mortgage or repayment plan. Properties can be repossessed as a last resort so it is important to avoid this at all costs.

Can You Assist With Bad Credit Bridging Loans?

Yes, we may be able to secure a bridging loan with bad credit. Our lenders are willing to consider adverse credit histories by taking into account the potential of the property in mind and its estimated future value.

How Do Bridging Loans In Scotland Work?

Bridging loans in Scotland are the same as the rest of the UK. We can source loans for our customers ranging from £50,000 to £25 million, or even more on request. Get in touch today and a member of our dedicated team will be on hand to assist you.

Deedle Finance is the trading name of Tudor Lodge Digital Ltd which trades under company number: 10437769.

Deedle Finance does not provide advice on regulated mortgage contracts or credit agreements, these are carried out by one of our independent FCA regulated associates. 

THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENT ON A MORTGAGE OR ANY OTHER DEBT SECURED ON IT.

IF YOU ARE THINKING OF CONSOLIDATING EXISTING BORROWING YOU SHOULD BE AWARE THAT YOU MAY BE EXTENDING THE TERMS OF THE DEBT AND INCREASING THE TOTAL AMOUNT YOU REPAY.

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020 8064 2758

Deedle Finance
First Floor, 5 Fleet Place,
London, EC4M 7RD
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