Information on Bridging Loan London Rates

There are many reasons you may need a bridging loan in London, and it’s not always easy to find out how to go about accessing a loan. Very often, people require bridging loans in order to quickly buy a property that’s not currently deemed mortgageable and need the loan to secure the property while they refurbish it. Whether you plan to flip a property – refurbish and then let or re-sell, or you want to keep it for other purposes, it is important for you to engage with a commercial mortgage broker UK, so that you get the right information and know your needs will be fully met.

 As with any loan, there are various costs involved in securing a loan and a commercial mortgage broker UK will usually charge a percentage of the loan amount over and above interest. A bridging loan London is a great option for short-term funding for property projects, but it is always important to factor in all costs, especially when you are aiming to make a profit off the project.

 The current rate for a bridging loan London range between 0.4% to 2%, depending on the lender involved. To ensure you get the best rate possible, rather go to a commercial mortgage broker UK than try to find a lender yourself. This way, you will not only have access to numerous lenders across the UK, but you will also be assured of personalised service that addresses your unique needs.

 

With the advent of COVID-19, there have been changes in priorities when it comes to properties, with many people looking for more space. Scientists are saying that the world could continue to experience pandemics into the future; this will change people’s needs in terms of properties, which means that those who have the opportunity to buy up properties and refurbish them to address the need for more or fluid space could potentially do well. But it’s not just about space – most people understand that a well refurbished building or home can yield a great return on investment, because a few well planned tweaks can make all the difference.

 While a bridging loan can in some instances be completed within 48 hours, it’s far more common for them to take between two to four weeks – so if you feel you may need a bridging loanLondon in the next few months, it’s a good idea to investigate which commercial mortgage broker UK best suits your needs so you are fully appraised of what documentation they may need in order to facilitate your loan.

 Silver Oak Capital has a highly experienced team who are geared to advising you on what the best type of loan for your needs, as well as access to the top lenders in the UK, with competitive interest rates and fees. If you would like to find out how to go about securing a bridging loan London, or need to enquire about rates, our professional team will be delighted to answer your queries and facilitate your bridging loan.