How do bridging loans work?

The main difference between regular loans and a bridging loans is the time it take to organise the funding. It can take months for a regular lender to complete a deal, but bridging loans can be ready in as little as 72 hours.

Whether you take out open or closed bridging finance you may expect the following:-

The process

1

Ascot is provided with a summary of the deal, reasons for wanting a bridging loan, the security available and a clear repayment strategy.

2

Ascot will request relevant documents and underwrite the deal

3

Ascot issues an offer letter stating the terms of the proposed finance and what is required to be done to obtain that finance

4

Ascot instructs a Surveyor to provide a valuation report and will send necessary documents to your solicitor

5

Solicitor explains the terms and conditions of the loan

6

You sign all the documentation

7

Funds are released to the solicitor for legal completion

8

The bridging loan monies are sent to you

We can provide fast access to funding with the minimum of formalities which can be used for a range of purposes whether that be for a property investment or to raise capital to aid cashflow.

Bridging Loan

Unregulated loans for residential property

1st Charge only
£37,500 – £5,000,000
Max LTV 75%
Max 18 month term
Properties in England, Wales and Scotland Only
Additional Security can be considered
We can lend on open market value

Refinance

Unregulated loans for residential property

1st Charge only
£37,500 – £5,000,000
Max LTV 75%
Max 18 month term
Properties only in England, Wales and Scotland
If refinancing an existing bridge, Max LTV 70%
We can lend on open market value
Additional Security can be considered

Refurbishment Bridge

Unregulated loans for residential property

1st Charge only
£37,500 – £5,000,000
Max LTV 75%
Max 18 month term
Properties in England, Wales and Scotland Only
Additional Security can be considered
We can lend on open market value

Bridging Loan

Unregulated loans for residential property

1st Charge only
£37,500 – £1,000,000 (Higher upon director approval)
Max LTV 65%
Max 12 month term
Properties in England, Wales and Scotland Only
Additional Security can be considered
We can lend on open market value

Want more information?

To find out more, get in touch with our team today. You’ll be glad you did.