Nationwide Bridging Loans
Compare Nationwide Bridging Loan Rates
- Bridging Loans from £50,000 to £25m
- Requesting a quote will not affect your credit rating
- Solutions for funding gaps when purchasing a home, auction purchase, second home purchase, commercial property funding.
About the bridging loan
THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY OTHER DEBT SECURED ON IT
Nationwide bridging loan review
Nationwide offer bridging loans for customers who need to access large amounts of capital quickly when other options such as a mortgage are not available. Bridging finance is usually offered over 12 months or less, although longer loan periods may be possible depending on circumstances.
Bridging loans are a popular choice for a variety of property deals as they can be arranged quickly (often within a matter of days) and can be secured against property and assets which could not normally be used for a mortgage or other type of secured borrowing.
What can you use a bridging loan for?
Bridging loans are commonly used for:
- Auction finance – where transactions need to be completed within 28s days – not enough time to apply for a mortgage
- Unmortgageable properties – often where there is no usable kitchen or bathroom, so mortgage providers consider the property uninhabitable
- Time-sensitive purchases – when you find the ideal property and want to move fast to avoid missing out but haven’t sold your own property yet
- Development finance – where developers want to snap up a development site, but don’t have the capital readily available
How much does a Nationwide bridging loan cost?
There are three main costs associated with bridging finance:
- Interest rates
- Arrangement fees (usually a percentage of the total capital)
- Exit fee (also usually a percentage of the total capital and only charged by some lenders in some cases)
The exact interest rate and fees you pay will depend on the lender and variety of factors, including how much you want to borrow, how long for, your credit rating and how much debt you already have.
Find the best rates on Nationwide bridging loans
Nationwide are just one of a number of providers offering bridging loans and it is a good idea to shop around to find the best deal. Our experienced independent bridging loan brokers can help you find the best interest rates and fees on bridging finance from all the leading lenders, including Nationwide.
To find out more, fill out the simple contact form above or give our friendly team a call on 0117 313 6058.