FAQs

What is a bridging loan?

It is a short term, interest only loan for funding property. Bridging loans are usually available for between 1-18 months. For more information on how long they take to arrange, fees, and lenders,...

Is a bridging loan different from short term finance?

No, a bridging loan is a type of short term finance. For more information on how long they take to arrange, fees, and lenders, take a look at our bridging section.   Last updated: 19/12/2016

How long can I borrow for?

Generally between one month and a year, although it is possible to borrow for less than a month or up to 18 months. For more information on fees and how to apply view our bridging section.

How long does it take to get a lending decision?

We can usually get you a decision within 24 hours.

How quickly can I expect to receive the funds?

Every case is different but it is possible to receive the funds in 72 hours although for more complex cases it could take two weeks.

What fees should I expect to pay?

There are a variety of fees – arrangement, exit, administration, valuation. You can find full details on each of these in our bridging section.

What rate of interest might I be offered?

Rates vary depending on your circumstances but expect to pay anywhere between 0.7-2% per month.

Is it possible to repay a bridging loan early?

Yes. If you think you are likely to repay the loan early it’s worth trying to get a loan without exit fees.

What are exit fees?

Fees charged by the lender at the end of the loan. Usually they are charged as a percentage of the loan amount.

How can I apply for a mortgage with you?

Give our mortgage broker team a call and let them help you. Most things can be done over the phone, via email and post. We’ll help you select the right mortgage and assist with the application. Mor...

Why should I use Mortgages for Business?

It can be hard to know exactly where to start when looking for a mortgage. Do you go to your bank, investigate the market for yourself or use a mortgage broker? The experience of applying for and g...

How do I keep track of my application?

We handle every application we receive within our own team so you can contact us for an update. As soon as we receive your application we assign a dedicated member of our mortgage team to your case...

I want to convert my buy to let property into two flats but need to remortgage to cover the cost of the works. Can I do this on my buy to let mortgage?

I bought a house 10 years ago which I let out but the tenants are leaving soon and I now want to convert it into two flats. I reckon the work will cost around £30,000. I only have £20,000 left to p...

Can lenders increase their tracker rate mortgages even if Bank Rate stays the same?

I read about the court case where borrowers tried unsuccessfully to overturn West Brom’s decision to raise its tracker rate mortgage rate even though the Bank of England base rate has not gone up....

My 2 sisters and I inherited a 5 bed property which we wish to refurbish and then maybe let to students as a HMO. Would we need to get specific funding for such a project?

My two sisters and myself have inherited our old family home as our mother recently passed away. The five bedroom house is in need of modernisation. We could sell it but are considering turning it...

You haven’t answered my question, what do I do now?

Give us a call and we’ll try to help.