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A bridging loan is a short term loan which helps borrowers by providing quick access to funds. It is designed to bridge the financial gap between the sale of an existing property and purchasing the new one. Compare bridging loan companies’ rate to know which bridging lender meets your requirements. Bridging loans are of different types such as open bridging loan, closed bridging loan, first charge or second charge bridging loan.
In this article bridging loan companies rated in 2022 explain to you how to choose one that meets your requirements.
The United Trust Bank was established in 1955. It is an established lender offering a vast range of secured funding facilities for individuals and businesses. These products include professional loans, bridging loans, and asset finance. It is regulated by the FCA and Prudential Regulation Authority.
United Trust Bank offers bridging loans ranging from £75k to £15m+. You can get a loan against a residential or mixed use property.
Kuflink was launched in 2011 as a bridging loan company to offer property loans and help property investors. With time the company has become a leading peer to peer lending and IFISA provider. What makes them stand out is their consistency. All their loans are secured against UK properties.
They have no track record of default borrowers. Their interest rate is fixed, meaning it does not go down or up. This way you get what you are offered. The company has excellent customer service and treats their investors in the best possible way.
Kuflink offers bridging loans for commercial, semi-commercial, residential and auction purposes. You can borrow up to £3m and the loan term starts from 3 months.
Mint Property Finance has been providing bridging loans for 10 years. Their loans are designed to bridge the gap between when borrowers are waiting for long term loans to become available. It offers five different loan products named bridging , light and medium.
The loan size varies from £75,000 to 2, 500,000 with an interest rate ranging from 0.65% to 0.70%. The loan term for all loan products is up to 24 months.
Pivot was established in 2012 as a London-based property development business. By experiencing the challenges of raising finance Pivot was launched with a mission to make the borrowing process as easy as possible. It offers short term loans secured against residential properties and also provides loans for refurbishment purposes.
The loan size varies from £150,000 to £5,000,000. You can repay the loan within a period of 3 months to 15 months.
Octane capital is relatively a new name to the name of Uk’s financial lenders and was launched in 2017. It is providing bridging, buy to let, developer exit and refurbishment loans. It offers flexible loans that meet your requirements.
You can take a loan ranging from £200,000 up to £25,000,000 for up to 24 months.
A Highly expert team of octane capital takes pride in getting to know the individual requirements of every borrower so that they can provide them with a product that suits them.
Bridging link is a trusted UK lender providing bridging loans to help a project keep moving. It has an expert team that has over 4o years of experience of providing loans to individuals and corporate businesses. The process of application is simple and quick. Once your loan is approved you can get access to cash within the shortest possible time.
It offers bridging loans from £50,000 to £500,000 and they lend up to 60% loan to value. Bridging link offer fees and interest costs that are very competitive.
Hope Capital is a well known bridging lender. It has a reputation for finding a financial solution for you in a record quick time, when other providers can not do so. They provide a loan with a clear exit route no matter how unusual or tricky a situation you have. It offers a range of loan products so that customers can take one that suits them the best.
Bridging loans from £50,000 to £5,00,000 for a period of up to 18 months are available on Hope Capital.
It is one of the UK’s independent bridging finance providers, it provides a wide range of flexible and fast bridging loans. MFS offers loans to private individuals and on a commercial basis based on the requirements of clients. It offers short term asset backed loans with a specific focus to support those seeking to expand their property portfolio. You can take a loan ranging from £100,000 to £10million for three months to 18 months.
They cover both residential and commercial properties and the interest rate varies with your requirements.
LendInvest is a property finance company established in 2008. It has been working for more than 12 years with an aim of making property finance simple and easy. It has a wide range of products from buy to let mortgages to bridging loans.
You can apply for a loan directly or through a broker. You can take a loan ranging from £7,50,000 to £15 million with a maximum loan to value 75%. The interest rate varies from 0.55 to 7.98%.
Bridging loan can be used for a variety of reasons that include:
You have to decide which type of bridging loan you want to get. That is why you need to know the difference between regulated and unregulated bridging loans.
A regulated bridging loan is that which you can get from a lender who is authorised and regulated by the Financial conduct Authority (FCA). In the UK only a few lenders are able to provide regulated bridging loans. With regulated loans you can get £100,000 to £5 million for a period of 12 months.
However, some lenders allow you to take upto £20 million for a period of 24 months. You can use this type of loan to purchase a property, auction purchase, downsizing, purchasing a property abroad, business uses, prevention of repossession and paying a debt.
These loans offer flexibility and can be secured against houses, bunglows, flats, and also the properties that are in poor condition or unsuitable for mortgage.
You can get unregulated loans through lenders who are not authorised by the FCA. These loans can be secured against residential property, retail units, mix use properties, offices and parking spaces.
You can take a loan ranging from £100,000 to 1 billion for a period of up to thirty six months. You may find a number of lenders providing unregulated bridging loans but you should take a loan from FCA authorised and reputable lenders to get a transparent service.
The exit route is a plan that describes when and how you will repay the loan amount. Your loan application is approved or rejected on the basis of exit strategy. Especially if you want to get a regulated bridging loan you should have a strong exit strategy. Some lenders only accept loan applications when your exit strategy consists of selling a property while others also accept refinance as exit strategy.
There are many bridging loan Companies in the UK but it is essential to select one that offers you best rates and follows best lending practices.
To help you in this aspect we are providing information about the UK’s top bridging loan lenders.
Here we are explaining the details of some lenders so you can make an informed decision and choose the right lender for you.
The cost of bridging loans mainly depends on the interest rate that you have to pay.
The bridging loan rate depends on several factors such as your credit history, the value of a property, loan amount, and exit strategy.
If you have a strong exit strategy and a clean credit you can get bridging finance at an affordable rate.Other than the interest rate there are many changes that add up to your bridging loan cost.
These may include arrangement fees, valuation fees, solicitor fee, broker fee and exit fees. You must consider all these charges along with the interest rate to know whether you can afford to take such a loan or not.
ReadMore: How Much Does A Bridging Loan Cost?
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our customers can find the best bridging loan rate without any difficulty.
We provide you with a comparison of leading bridging loan companies of the UK through our comparison table. We act as a broker and help you in finding the right lender. We offer a transparent service without any hidden charges.