Lerwick Financial Group Ltd offer fast solutions to anyone seeking a bridging loan for any purpose. Deal with decision makers Whatever your requirements we feel we offer the best deal and the best service over the UK.
What is a Bridging Loan?
A bridging loan is a loan used as a short term solution to ‘bridge the gap’ between the sale of one property and purchase of another.
What can a bridging loan be used for?
A bridging loan can be used for many purposes including:
- Purchase at auction (Insufficient time to arrange a term mortgage)
- Property in poor repair (not suitable for a term mortgage until work is completed)
- Purchase another property whilst waiting a sale (lets you buy the property you want)
- Property development – for loan sizes from £1M to £7.5M up to 70% of purchase price, up to 100% of build costs, max 65% of GDV, max 85% of total cost – rates from 7% per annum, 24 month term. For loans lower than £1M indicated interest rate from 1% per month for development applications
Release Capital from property pending a sale (Enables you to free up your money while awaiting a sale)
- Purchase a residential property at a discounted rate with a bridging loan geared to the valuation as opposed to the purchase price(Min deposit 25%)
Why choose lerwickloan.co.uk as your finance broker and bridging loan provider?
- Immediate in principal decision from a decision maker
- Competitive rates from just 0.49% per month
- Adverse credit history accepted with explanation
- Interest roll-up schemes available
- Residential Property only
- Up to 100% with additional security
- The directors’ have over 25 years experience in this sector
Ask for free advice for for a bridging loan
Call Now on 0345 273 3322 (Office Hours) or 07901 332273 Evenings/Weekends, alternatively, please complete the enquiry form below.
We are here to help.