What is a bridging loan?

Bridging loans are a type of short term borrowing often used for property purchases amongst other things. They are normally offered over anything up to 12 months, although some lenders may be willing to lend over as much as 3 years.

The rates on bridging finance tend to be reasonably high, so borrowers should have a clear repayment plan in place before taking out this type of loan. Repayment will often be achieved by taking out a more long term loan, such as a mortgage. Alternatively, if the loan has been used to purchase a property or other asset, this may be sold on to repay the bridging loan.

Bridging loans offer a fast, flexible way to access significant amounts of money when other types of funding are not an option.

Can you get a bridging loan for buy to let property?

Bridging loans can be used by buy to let landlords and prospective buy to let landlords to help them buy property where a traditional mortgage cannot be used. This may be because the property is being bought at auction, where this is not time to get a mortgage in place before the completion deadline, or where the property will need significant work carried out before it will be mortgageable.

Find the best deals on Buy to Let bridging loans

Fair Loans’ team of specialist bridging loan brokers have access to all the top lenders from across the market, including many not available directly to the public. This means we can offer our customers the very best rates available on bridging finance.

Using our bridging loans service can be much faster than approaching lenders yourself. We will quickly identify which short term finance providers offer the best match for your borrowing needs then communicate with then on your behalf, significantly speeding up the process.

To find out more, simply fill out the contact form above or call Fair Loans today on 0117 313 6058.