We can offer residential bridging loans on all types of residential property including freehold and leasehold – detached homes, flats, terraced and land for residential use. Residential bridging loan can be used for almost any purpose. The security property can either be property you already own or which you intend to buy with us. In general you can borrow up to 80% of a properties open market value if the security has no existing debt on it. We also offer second charge bridging loans if property has already existing debt. Residential bridging loans are usually repaid through a remortgage with a high street lender or when the property is sold.
Like a mortgage or a homeowner loan, a residential bridging loan is a loan that is secured against your property. But unlike a mortgage, a residential bridging loan can run for anything from a day to three years, and can often be arranged in a matter of days.