Bridging Loans - Quick funding up to £50,000
You may be looking for an instant and convenient funding access while getting a new property or selling the existing one. Bridging loans are one such finance option that has been used for years.
These are modified to assist individuals in completing the property purchase process before selling the previous one. The primary objective is to bridge the gap between the purchase of a new one and the sale of an existing one.
You need to keep it asset-based, where you must secure the loan by placing that property as collateral. The asset value should equal the loan amount you want to borrow.
LoansEvents is the specialist provider of bridging loans, offering them on interest only. We feel proud to present flexible loan deals with manageable interest rates for your monthly income. Our features include the following:
We offer loans with a complete responsibility to lend 100% of the property. Our loan specialists consider every loan application irrespective of the credit score. Common sense prevails here while preparing the loan deal.
No hidden costs
We offer bridging loans up to £50,000 with not charging anything extra. Our deals are pocket-friendly to everyone. We do not surprise you with any processing fee. You pay only the affordable interest rates.
No broker involved
At LoansEvents, you get the direct benefits of bridging finance. You do not need to pay extra by including a broker. You can communicate with us directly. We can fund you, and we can guide you as well without any additional charge.
What is the process to avail of bridging loans?
Bridging finance includes a deal between a lender and the borrower during a property purchase or sale. In this process, the lender offers a specific loan amount for a property to the applicant to bridge the gap that occurred during the property purchase. However, it will run on the condition of placing a property or asset as the loan security. It should primarily be residential.
It is usually the first mortgage on a property, but sometimes you may get on the second one if you get bridging loans from a direct lender like LoansEvents. However, it will be on two conditions. First, you should have sufficient equity in the property. Second, the first mortgage should be approved.
Many lenders have their criteria to lend based on the value of the residential property. We can lend between 80% and 100% of the value of the property, depending upon the security you are pledging. We independently calculate the property’s value and the amount you can pay throughout the loan term.
In a nutshell, we prepare a loan deal on these parameters:
- The amount that you want to avail
- The percentage of property value to the borrowed amount
- Loan term that you choose
You get these entire estimates in the initial loan quote. Once you accept it, then we can move forward.
Are there any alternatives to a bridging loan?
LoansEvents offers bridging loans on flexible norms so that our deals suit everyone’s financial needs. It is short-term funding, and thus, we keep the process online with little documentation. However, at some point, if you feel uncomfortable with this funding option, we can recommend some alternatives for bridging loans here too, including:
These can be considered the ideal alternative for bridging finance. However, mortgages are applicable for longer-term fundi ng.
This is also a helpful option that you can consider in place of a bridging loan. It requires an asset to secure the borrowed sum with a valuable asset.
These are very different from bridging loans, as one can get commercial mortgages for up to 25 years. The rates are relatively lower too.
Property development finance
You can opt for this option for property development projects. Nevertheless, these are more suitable for development than bridging loans.
We can assist with your bridging loan request. Our deals are available for any person with genuine reason or legal entity. We focus primarily on the property value rather than credit scores or debts you have. Therefore, you can expect a flexible and quick lending service from our end.
To have the best deal available for you, apply now. For further queries, you can continue to read below.