How much will a bridging loan cost?
Bridging loans are a form of short term finance which is seen as reasonably high risk by most lenders. As a result, they tend to charge higher interest rates than with many other forms of borrowing. This means bridging finance can be a relatively expensive way to borrow, so it is important to get the very best deal you can from your lender to help keep your monthly repayments down.
It is important to remember that bridging loans are usually offered over a maximum loan term of 12 months (although some lenders may consider terms of up to 3 years). It is therefore really important to have a plan in place to repay the money promptly before taking out bridging finance.
Get help with the cost of a bridging loan
To keep the costs down on your short term loan, it is highly advisable to use a professional bridging loan broker. They will have access to specialist lenders offering deals not available to regular borrowers, meaning you can find the very best rates available to help keep your repayments as low as possible.
A bridging finance broker will also be able to speed up the process of accessing the money you need and take most of the hassle out of the equation, making applying for a bridging loan fast and fuss-free.
Find the best rates on bridging loans
Fair Loans team of specialist bridging loan brokers can help you access market leading rates on short term finance. With contacts at all the leading lenders, including those not available on the high street, we can find you the most affordable bridging finance deals on the money you need, quickly and with minimal fuss.
To find out more, simply fill in the contact form above or call Fair Loans today on 0117 313 6058.