How quickly can I get bridging finance?
Bridging finance can take up to 5 days to be approved by the lender in most cases. This timeframe is likely to be similar to other types of home loans and in more complex scenarios can be longer to obtain approval.
Is it still possible to get a bridging loan?
Whether you can get a bridge loan with bad credit will depend on your personal, financial situation. If you’ve struggled with credit in the past, you may still be approved for a bridging loan as you’ll be using your property (or other valuable asset) as collateral.
Do high street banks offer bridging loans?
Few traditional high street banks now offer bridging loans and they are often provided by specialist lenders. As well as having access to the standard lenders, we often work with private banking contacts to arrange this type of finance. The advantages are better rates, lower fees and more flexible access.
Does RBS do bridging loans?
Unfortunately, bridging loans are not currently available from RBS. Most commonly used for purchasing properties when time is a factor, bridging loans are a world away from conventional mortgages.
Does Barclays offer bridging loans?
Barclays bridging loans provide clients with open and closed bridging loans for a range of uses. Mainly for property purchases, development loans and auction finance. Barclays offer higher than average interest rates in comparison to other high street banks for bridge loans.
How much equity do I need for a bridging loan?
50%
You need the equity: There is no hard and fast rule but it’s recommended you have more than 50% in equity to make the bridging loan worthwhile.
Do Barclays do bridging loans?
What is a bridging loan NatWest?
A NatWest bridging loan has a more flexible set of criteria than is typically required by mortgage lenders and high street banks, which makes them versatile and relatively straightforward to obtain. Similar to a mortgage, a Natwest bridging loan is secured against your property.