Bridging Loan
How soon can I have the money from my advance?
We have actually completed a quick bridging loan within 27 hours from the first enquiry and application. In most cases three to five working days is a sufficient time in which to complete any advance, however, if it is vitally urgent, we can complete within three hours.
What are the charges incurred?
Our typical interest rates range from 1.5% per month to 2% per month for short term secured loans.
What are the penalties if I pay back the agreed amount including interest more quickly than agreed?
Our company offers complete flexibility in their finance terms. Unlike other lenders, you decide upon the repayment term, but you are always able to extend the period to suit your own circumstances. You will only pay for the period of interest that you use.
What security do I need to offer?
First or Second Legal Charge on any residential or commercial property provided.
What is a Second Legal Charge?
If you own a property with an existing mortgage, our Public Limited Company is still able to consider a quick bridging loan whilst your current mortgage is in place. You will not have to repay your existing loan. This is known as Second Charge Lending.
What is the level of advance that you are prepared to offer for the property I offer as security?
Typically, our company is able to consider advancing up to 75% of the value of any acceptable security, to provide you with a quick loan. Normally all advances are paid within three days and there are no credit checks.
What if I have a bad or adverse credit history?
We understand that it is not uncommon in the UK for residents to have an adverse credit history, even if they do not know about. This is why we secure against landed estate or property, so in effect, its your house that gets the loan, and not your credit rating.
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Short term finance FAQ's
What happens if my property is already mortgaged, how much more can I borrow?
The level of 75% is still available but your existing mortgage will have to be deducted from this amount for your quick loan.
You mention that You Do loans. Do you lend to individuals with impaired credit?
We lend to individuals with a poor credit history. We will accept applications from an individual with CCJ's to give you a quick loan.
Are there any cases that you will not accept for bridging loans?
We will not lend to Bankrupts, however there are opportunities for you to involve Easy Bridging Loans in your negotiations for discharge with your Trustee or Official Receiver.
What types of property is acceptable as security for bridging loans?
We will accept standard residential and commercial property as securities on bridging loans.
What should I do if I have been refused by another Lender as my security is not conventional?
Easy Bridging Loans is a "hands-on" lender and we are able to take entrepreneurial views. Contact us with your enquiry even if you property is "out of the norm" to get a quick bridging loan.
How is Easy Bridging Loans able to act so swiftly?
Easy Bridging Loans is a Principal Lender - lending its own funds. We avoid excessive and lengthy bureaucracy or "red tape". You will deal DIRECTLY WITH THE DECISION MAKERS for your quick bridging loans & cheap bridging loans.
What's the catch?
There isn't one! Easy Bridging Loans is at the heart of the property market with experience in providing bridging finance for over 20 years. We have extensive experience within the bridging loan sector. We set the highest standards in courtesy, professional diligence and business ethics.
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