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Bridging loans are a type of short-term funding designed to meet the emergency needs of borrowers. They provide quick funding along with many other benefits, such as flexible eligibility criteria. However, the interest rate of bridging financing is higher than other types of borrowing, but it can help to resolve short-term financial issues.  Some common situations where you can use bridging loans include purchasing a property before the sale of an existing one, buying a property at auction, or renovating a property before the sale to increase its value. Therefore, the need for bridging finance is quite pressing, but you may be thinking about how much you have to wait to get approval for this type of loan.  Here in this article, we are going to explain how fast you can get a bridging loan. But first, you should understand whether it is the right option for you or not. Is A Bridging Loan Right For You?  You can take a bridging loan from direct bridging lenders, p2p lending ...

Building your own home from the ground up is a dream of many. If you are planning to go for a self-build project, there are two ways you can use it. The first is DIY, in which you must do most of the work yourself. The second option is hiring those who can do all the work on your behalf. Either way, you are not able to get a loan from banks, so it is worth considering a self-build bridging loan.    It is a specialist bridging loan taken out on a property you are building and thinking of occupying yourself. It provides you with funds to start building a property and achieve your goals. You may get this type of loan from a number of lenders, and p2p lending platforms also offer these loans to attract more customers. Bridging lenders offer more flexibility and quick access to funds.  If you are taking out a self-build bridging loan for the first time and need to learn more about it, this guide will help you get all the information you need. Self-build Bridging Loan A s...

  A bridging loan is a brief-term, interest-focused loan backed up by the property, similar to a mortgage. Also, this loan is secured with real estate, by a method almost identical to a secured loan. How do bridging loans operate? A bridging loan is provided for a short period that may last up to a maximum of eighteen months. Besides, some lenders might offer these loans for longer intervals. You can take first legal charge loans by backing them up with your property for one year. The twelve-month limitation may not be applicable when getting a second charge bridging finance for businesses. The interest rate that Peer To Peer Lending UK platforms charge typically include add ups to the loan, and you have to pay the entire amount by the term’s end. That is referred to as rolled-up interest. Borrowers can select to pay the interest every month; after they give evidence, they can pay it back. Small bridging loan You can get small bridging loans via the first charge by utilizing unreg...

Despite steady progress, property development is still a hassle for property developers. Most developers get confused by different loan types and can’t figure out the best one.  The real problem often arises when they can’t see the difference between bridging loans and development finance. Property development and real estate have been the engine of the UK’s economy for decades. Recent stats show positive growth in the construction sector.  According to trading economics, the UK’s construction and development GDP was £32106 ‎ Million in the Q2 of 2022. Today, we will show you a comparison between bridging finance and development finance. So, stay with us to find the right loan type for your development project.  What are bridging loans used for? Bridging finance is the capital you get from specialist lenders or Peer to Peer Lending platforms. These loans often help to fund the short-term needs of the borrower.  As an individual, you might have different needs and wa...

Bridging loans have become popular among borrowers all across the UK due to the benefits and covering a broad range of situations. It is a short-term funding solution with many benefits, such as fixing broken property chains or providing funds to expand the property portfolio. Despite these benefits, borrowers may ask themselves: Are bridging loans a good idea for taking out specific property plan?  To answer this question, it is necessary to elaborate on bridging loan benefits. Both individuals and businesses can use bridging finance to meet their financial obligations. It helps you avoid lengthy waits as in mortgages and also reduces the risk of losing your favorite property to another buyer.  Here are some beneficial characteristics of bridging loans that will help you understand why this option is worth considering.  

Bridging finance comes to mind when you think about purchasing a property and selling an existing one. Have you ever considered what decides the property market trends and how bridging loans are suitable?  Most new investors and developers can’t understand the connection between the overall economic situation and the housing market. Surprisingly, the single housing sector is the cog in the economic wheel of every country, let alone the UK. Thus, it is more than necessary to keep an eye on the housing market and how it translates to the bigger picture.  In this article, we have outlined the importance of the property market, its major implications on the economy, and the importance of bridging loans. So, stay tuned if you want to know where the market is heading. 

Do you want to sell a property because you have spotted your dream home for sale, in the right location, with an extra room for a home office and within your price range? You may not find a buyer for your existing property, which means losing a chance to purchase your dream home. A property chain depends on several things happening on time and plans running smoothly. Once a chain of buyers and sellers is created, the selling process can be slowed down and liable to break. That is where a bridging loan comes in. You can take out such a loan to complete the purchase of the property before the sale of the existing one.    According to research, 20% of the bridging loans are used to fund property linked finance . With the increase in property rates in the UK, the demand for bridging loans has also increased. You can get it from direct bridging leaders, p2p lending platforms, or brokers. You may be wondering how bridging finance can help you in fixing a broken property chain. Here ...