BRIDGING LOANS

Short-term funding solutions for property purchases
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IS BRIDGING RIGHT FOR YOU?

A bridging loan is a short term finance option, typically of 12 months or less, used by property owners to help fund the purchase of another property when their funds are temporarily tied up elsewhere, for example, in another property or investment.

Bridging loans ‘bridge’ the gap between the purchase of one property and the sale of another or the disposal of an asset. A bridging loan may help if you are purchasing a new property and need to complete before you have secured a buyer for your own home.

We provide bridging loans for borrowers who require a longer-term mortgage on the property being purchased. For details of our bridging loan products, please call us on 01228 403141 or book an appointment online at your nearest branch.

BRIDGING LOAN TYPES

There are two types of bridging loan:

Open Bridge
This is where there is no specific date by which the loan will be repaid. Most bridging loans are open
These are typically taken by borrowers who want to purchase a property before they have secured a buyer for their current property and do not yet know when the sale will take place
Closed Bridge
This is where the date the bridging loan will be repaid is known at the beginning of the loan period
These are typically very short-term loans and occur when the sale date of another property is already agreed, but there is a need to purchase the new property earlier
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AN AWARD WINNING MORTGAGE PROVIDER

Here are some of the recent awards we have won for our mortgage deals

MONEYFACTS FINANCE AWARDS 2016 Image
MONEYFACTS FINANCE AWARDS 2016
Regional Lending Provider of the Year
We won the Regional Lending Provider of the Year category at the 2016 Moneyfacts awards for offering the most consistently competitive products over the course of a year
MORTGAGE FINANCE GAZETTE AWARDS 2016 Image
MORTGAGE FINANCE GAZETTE AWARDS 2016
Best Regional Building Society
For the second year in a row and fourth in total, this title is awarded to the building society that has offered the most consistently competitive mortgage rates over a year
CHECK OUT OUR OTHER AWARDS Image
CHECK OUT OUR OTHER AWARDS
Have a look at our trophy cabinet
See Our Awards
We have won many more awards in recent years, including accolades for our mortgage deals, customer service and fraud protection services. You can read about them here
Your mortgage is secured on your home. Think carefully before securing other debts against your home. Your home may be repossessed if you do not keep up repayments on your mortgage.