Navigating bridging loans for your property ventures
A bridging loan offers a short-term solution for your property purchase needs, leveraging the equity in your current property as security. It’s crucial to remember that these loans are designed for short durations, typically ranging from 1 day to 12 months, and can be costly if extended for long periods.
With fewer traditional high street banks offering bridging loans, specialist lenders often step in to fill this gap. At Fitch & Fitch, we have access not only to standard lenders but also to private banking contacts for arranging this type of finance, offering advantages like better rates, lower fees, and more flexible terms.
In urgent scenarios, we’re adept at securing funds swiftly, often within days. Our team handles all aspects of the process – from paperwork to liaising with underwriters, valuers, and solicitors – ensuring a seamless experience for you.
A bridging loan could be an ideal solution if you’re looking to:
- Purchase a new property while still selling your existing one, or if your sale has fallen through
- Buy a property at auction
- Undertake property development
- Refurbish, renovate, or buy a dilapidated property
- Invest in a Buy-to-Let property
- Extend a property lease
In all cases, where appropriate, your Fitch & Fitch broker will assist you in arranging a suitable exit strategy to pay off your bridging loan and move to a more cost-effective long-term funding solution.
Typically we charge a fee for the advice we provide; this fee will be dependent upon your personal circumstances and will be agreed with you after we have fully understood your requirements. Any fee is usually payable upon successful completion of your mortgage.
Need Assistance?
Fitch & Fitch are experts in short-term lending solutions. Whether you would like to make a finance enquiry or simply have a question about our services, we’re on hand to help.