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Bridging Loans

Talk to our expert bridging mortgage advisors in Streatham, London. for personalised advice and fast funding.

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    Bridge the Gap to Your New Home!

    A bridging loan is a short-term solution that lets you purchase a new property before selling your current one. It’s designed to help you avoid property chain delays and move forward quickly.

    Looking for fast and flexible funding? Our bridging loan advisors in Streatham and across London are here to help. Whether you’re a homeowner or an investor, we’ll guide you through the process with clear advice and tailored solutions.

    Type of Bridging Mortgages​

     Commercial mortgage rates are decided based on various factors, with lenders primarily focusing on specific criteria. it’s best to consult a mortgage broker for detailed advice. Following factors are some of the main considerations:

    Open Bridging Loans

    Open bridging loans are ideal for those who haven't secured a sale on their current property yet. They offer flexibility as there is no fixed repayment date, making them suitable for buyers who need time to sell their existing property.

    Closed Bridging Loans

    Closed bridging loans are perfect for borrowers who have a set completion date for the sale of their existing property. These loans come with a fixed repayment date, providing a clear timeline for repayment.

    First Charge Bridging Loans

    First charge bridging loans are taken out against a property that doesn't have any existing mortgages. This type of loan has priority over any other debts secured against the property, offering lower interest rates and potentially higher loan amounts.

    Second Charge Bridging Loans

    Second charge bridging loans are for properties that already have a mortgage. They are secured against the remaining equity in the property and typically have higher interest rates due to the increased risk for the lender.

    Purpose of Bridging Loans:

    1. Property Purchase
    Bridging loans are often used to buy a new property before selling your current one. They’re especially helpful in competitive markets, where acting quickly can make the difference between securing your dream home or losing it.

    2. Property Renovation
    These loans can provide fast access to funds for renovating or improving a property.

    3. Auction Purchases
    Buying at auction usually means paying the full amount within a very short time frame. Bridging loans offer a quick financing solution to meet these deadlines, ensuring you don’t miss out on a bargain.

    4. Business Opportunities
    Bridging loans aren’t just for property. They can also cover short-term business needs such as managing cash flow, funding new projects, or purchasing commercial properties. 

    5. Chain Breaking
    Delays in the property chain can be stressful and disruptive. A bridging loan can break the chain, allowing you to move ahead with your purchase even if your buyer is held up—giving you peace of mind and continuity.

    Simple Steps to Your Mortgage Application

    1. Application and Approval

    You can apply for a bridging loan through a lender or broker by providing details about the properties, your finances, and the loan amount required. Approval is usually much faster than a traditional mortgage—often within just a few days—thanks to simplified checks and underwriting.

    2. Loan Terms and Conditions

    Bridging loans are short-term solutions, typically lasting from a few weeks up to 24 months. Repayment options are flexible, allowing you to clear the loan in full at the end of the term or repay early if your property sells sooner.

    3. Interest Rates

    Rates are generally higher than standard mortgages due to the short-term nature of the loan. Many lenders allow interest to be “rolled up” and paid at the end, helping reduce monthly payments.

    4. Secured Loans

    These loans are secured against property—either your current home, the one you’re buying, or both. The amount you can borrow depends on the property value and your repayment strategy.

    5. Use Cases

    Buying property at auction - Purchasing a new home before selling your current one - Funding renovations to quickly boost property value - Breaking a property chain - Business or investment opportunities

    6. Repayment

    Repayment is usually made by selling your existing property or refinancing with a traditional mortgage once the sale is complete.

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    Bridging Loan Or Mortgage FAQs

    Yes, bridging loans are commonly used for residential property purchases. They can provide quick funds to secure a new home before selling your existing one or to finance property renovations.

    Bridging loans are known for their fast approval and funding process. In many cases, loans can be approved within a few days, making them ideal for time-sensitive transactions.

    Yes, bridging loans can be used to avoid disrupting your existing mortgage. They allow you to secure temporary financing to bridge the gap between property transactions without having to immediately sell or refinance your current home.

    Interest rates for bridging loans vary depending on the lender, loan amount, and your financial situation. They are generally higher than standard mortgage rates due to the short-term nature and risk involved.

    Yes, there are typically fees associated with bridging loans, including arrangement fees, valuation fees, and possibly exit fees. It's important to understand all costs involved before committing to a loan.

    Yes, bridging loans often allow for early repayment. This flexibility can be beneficial if you sell your property sooner than expected or secure long-term financing through a traditional mortgage.

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