Property Bridging Loans

Bridging Loans

Historically, Property Bridging Loans have been the go-to option for securing fast financing. Secured by property but with less stringent process than a mortgage, bridging loans are can provide an excellent solution. Property Bridging Loans do have their drawbacks - although the process is simpler than a regular mortgage it can still take weeks to complete a loan. Lenders often must consider not just the value of the property but the proposed ‘exit' from the loan i.e. how you plan to repay. This can cause delays in complex cases and funds may not be received in time or be contingent on the borrower meeting new criteria.

There is a simpler and faster alternative: Luxury Asset Bridging Loans. Assets including fine art, classic cars, and luxury watches can be used to secure a loan from £5,000 up to £5,000,000. Loans take a matter of days to complete and funds are available the same day the agreement is accepted. The range of lending available means they can be used in place of or to top up a Property Bridging Loan.

BORRO'S LUXURY ASSET BRIDGING LOANS

  •   No additional fees and free valuation
  •   Minimum loan value of £5,000
  •   Funding available in days

STANDARD PROPERTY BRIDGING LOANS

  •   Arrangement, legal and valuation fees
  •   Minimum loan value tends to be in the region of £100,000
  •   Cases are easily delayed

Other benefits:

  • Discreet and confidential service

  • Quick and accurate loan estimates

  • Assets fully insured through Lloyds of London

Bridging Loan FAQs

While we are confident Borro offers the choice alternative to bridging loans, we have found that our customers want to be well-informed on all other financial avenues in order to fully evaluate their options. When talking about borrowing large sums of money, it is of prime importance to make the right decision for you, choosing a method of borrowing which best allays both personal and financial concerns. To this end we have listed the main questions we are asked in order to give you a broad understanding of the loan-market.

What is a Property Bridging Loan and how does one work?

A Property Bridging Loan literally enables you to bridge the gap when you are waiting for finances. If, for example, you are selling one property to buy a new one but haven't yet received the money for their existing property, can get a short-term loan for the interim so there is no delay in purchasing the new property.

These loans are useful as they require limited paperwork and can give access to large sums of money.

What are the average rates for Property Bridging Loans?

As with all loans, there are number of different providers, all charging different terms and APR percentage rates. Generally, rates are around 1% a month

What are the alternatives to Property Bridging Loans?

Luxury Asset Bridging Loans
Loans based on the value of assets you own including art and antiques, classic cars, as well as jewellery and luxury watches.

Unsecured Loans
Unsecured loans are measured against your personal finance and credit history.

Traditional Mortgage
Loans based on the value of assets you own including art and antiques, classic cars, as well as jewellery and luxury watches.

Benefits of Borro

Use existing assets to release funds

  • Expert valuations
  • Flexible payment options - no hidden costs
  • No effect on credit rating/financial situation as not checked
  • Finance in your account within 24 hours

Speak to a specialist

0808 163 9537

Or get started online

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Application has no impact on your credit score