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    Bridging loan solicitors

    Our award winning team will work closely with you to ensure you can realise your long-term plans efficiently and smoothly. Short term bridging loans are increasingly popular with landlords, developers and homeowners looking to fill or ‘bridge’ funding gaps. Our clients use bridging loans to meet their unique funding circumstances and we act nimbly to put short term funding place, so long term plans can accomplished.

    We regularly help clients secure the purchase of a property before the sale of another, purchase a property not suitable for a conventional mortgage, complete an auction purchase to deadline, finish refurbishment works or minor property developments, and refinance or consolidate existing debts.

    Don’t let short-term financial circumstances stop your long-term goals. Talk to our experienced team as soon as possible.

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    The Conveyancing Quality Scheme

    We are an accredited member of the Law Society’s Conveyancing Quality Scheme. The Conveyancing Quality Scheme (CQS) is a recognised standard for quality residential conveyancing.

    How can our solicitors help you short out a bridging loan?

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    It is important to seek the advice and support of an experienced bridging loan solicitors to support you through the conveyancing process that is involved in putting bridging loans in place. Our award-winning solicitors will ensure your bridging loan works for you and your circumstances, whether it is for personal projects to a bridging loan for business. The support of our legal experts will ensure that all legal matters are dealt with as efficiently and swiftly as possible.

    In the first instance we will be able to tell you whether you are likely to be eligible for a bridging loan or development loan depending on your unique circumstances and plans. Each lender will have different specifications and we would be happy to discuss your ambitions and how short term funding can be put in place. Just get in contact.

     

    What is a bridging loan and other questions?

    • What is a bridging loan?

      A bridging loan is a short-term secured loan, which is typically repaid within between 6 to 24 months. They are a way of accessing financial support in a faster way than dealing with the long processes associated with institutional lenders.

      Bridging loans are usually property-specific. They are often used by borrows to ‘bridge’ the gap between a property purchase and putting in place longer term funding or selling a current property.

      Bridging loans are more expensive than conventional mortgages or longer term loans, so it is important that borrowers have plans in place to repay the bridging loan as quickly as possible.

    • How quickly can a bridging loan be arranged?

      There is no set time between a bridging loan application and its approval, but generally they are much quicker to put in place than long-term funding. It the process runs smoothly, it can be possible to access the funds from a bridging loan in just a few days following the application.

      The best way to ensure a swift and smooth process is to  work with an experienced bridging loan solicitors, like our team here at Birchall Blackburn Law.

    • What can a bridging loan be used for?

      Bridging loans can be used for a number of reasons but they are mostly employed for property based projects, but can be used to support the purchase of business too.

      For example, bridging loans can be used for meeting purchase deadlines, purchasing a property prior to the sale of a current property, auction purchases, refurbishment of a property for sale, or the expansion of a landlords property portfolio before renters can be put in place.

    • If my property is mortgaged, can it still be used as security for a bridging loan??

      Yes, but it will depend on the amount of equity you have in your mortgaged property. A lender will investigate your equity balance on the mortgage to decide the security you can provide to them. The larger the mortgage on the property, the higher the  interest rates or cap on the amount you will be able to borrow.

    • How much will a solicitor charge for putting in place a bridging loan?

      A solicitor’s fee for putting a bridging loan in place will vary according to a wide number of factors, for example the size of the property, value of the loan and the complexity of your case.

      Our experts at Birchall Blackburn Law will be more than happy to talk through the costs and discuss a fixed fee, subject to any unforeseen issues. An experienced solicitor will always be open and transparent about their fees and will swiftly communicate changes to costs if the process is taking longer than planned.

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    - Did you know?

    The value of the bridging loans market has risen by 23% over the last five years, according to The UK Bridging Loans Market Report 2022.

    This is what our clients say about us?

    M. Weafer

    Very helpful, attentive, kind and patient.

    CJ

    Very satisfied.

    MJ Hiles

    Everything went well. I felt comfortable talking to the staff.

    AD

    Very good service.

    T. Wood

    All good.

    P. Holt

    Her bedside manner was excellent.

    D. Thursfield

    Inspired confidence

    S. Wilson

    Extremely efficient service.  I was apprehensive about making a Will but Jessica guided me through everything – she explained everything and gave me space to ask any questions.  Would use her again.

    Talk to us

    Reach out now to us for a confidential chat about pension property investment, with no obligations. Simply call, email or request a call back and one of our experienced team members will be in touch to help you with your legal needs.

    0800 614 722
    enquiries@birchallblackburn.co.uk
    Request a call back
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