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Bridge Finance in the UK

Are you aware that there are over 60 bridging lenders in the UK market?  Do you have the time to source and research these? 

We work closely with a firm of Bridging Finance specialists, who are regulated by the Financial Services Authority (FSA) and fully support the FSA's "Treating Customers Fairly" initiative.  They have lenders offering a range of bridging finance tailored to meet your needs. [These lenders may not always advertise on the Internet or deal with customers direct.]   

This service does not give advice but will provide you with information regarding various lending alternatives (subject to the necessary security being provided) in order for you to choose the most suitable for your needs.

Finance can be arranged in the following instances:

• Open or Closed Bridge Loans
• Status or Non-Status Bridging (proof of income is not needed)
• Interest can be considered in the Bridging Loan
• Bridging Finance for clients with poor credit history
• 100% plus Bridging funding available, in some circumstances

 * Please note: Your home may be repossessed if you do not keep up repayments on a mortgage

Purpose

A bridge loan can be used for a variety of purposes, the following list being just a few examples:

• Residential Property Purchase
• Commercial Property Purchase
• Land Purchase
• Residential Developments
• Commercial Developments
• Business Operational Costs
• Tax Arrears
• VAT Bills
• Cash Flow Clear mortgage arrears
• Disputes, legal fees
• Purchase of high value items e.g yacht, paintings etc
• Share purchase
• Partnership buy-ins/buy-outs
• Clearing County Court Judgements
• Court Orders
• Quick Divorce Settlements
• Plus many others

What to Consider

Like most things in life, when considering bridge finance you have to make sure that the overall package is suitable for your needs. Although important, it is not just the rate of interest you have to consider, but also many of the following points:

• How long will it be before you can have the money?
• What are the set up costs?
• Is there a minimum term and do redemption penalties apply?
• Do I have to prove my income?
• Is my age against me?
• Will the bridging lender consider both first and second charge lending?
• Does the bridging lender consider both open and closed bridging finance?
• Are solicitors involved? If so do you need to cover the cost of the lenders solicitors as well as your own.
• Will the bridging lender require a valuation(s) or will they be happy with just the selling agents details.

If valuations are required will the bridging lender consider lending, 65%, 70% 75% against the "Current Market Value", or the "Market Value" (based normally on assuming a sale within 90 days or an auction price)?

If all the above seems daunting, complete our simple enquiry form on this page, without the red tape.

Procedure 

FIVE SIMPLE STEPS TO SUCCESS

Step 1, Complete the short enquiry form.

Step 2, Our bridging specialists will contact you to establish your requirements and give you details of the service they provide. This will be confirmed to you in writing should you wish to proceed.

Step 3, They approach a number of lenders on your behalf and will provide you with a selection of terms from each lender that is willing to consider your enquiry, outlining all relevant information and costs.

Step 4, Once you have chosen the most suitable deal which meets your needs, they will arrange for you to apply to the lender for the finance.

Step 5, They constantly monitor the progress of your loan with all the parties involved, solicitors, surveyor's, etc to make sure as far as they possibly can, that the funds are made available in the time scale required.

FSA regulation

1. The borrower is an individual or trustee.
2. The lender must take a first charge over a UK property and
3. The property must be at least 40% occupied by the borrower or their immediate family.

The firm we work with is authorised and regulated by the Financial Services Authority.

Their permitted business is arranging mortgages.

They are covered by the Financial Services Compensation Scheme [FSCS].

Mortgage advising and arranging is covered for 100% of the first £30,000 and 90% of the next £20,000 so the maximum compensation is £48000.

The FSA's website is :  www.fsa.gov.uk/register

The information above has been provided by the Bridging Finance company and Jayga Ltd does not take any responsibility for the content or give any warranties for their performance.  Jayga Ltd does not give legal, financial or tax advice.

www.jaygaltd.co.uk