What is bridging finance?
Bridging finance refers to short-term loans, which are usually used to “bridge” a gap while the borrower arranges alternative low cost long term funding or a sale.
Do I need a solicitor?
Yes, you will need a solicitor firm with with a minimum of 2 partners
Can I take out a bridging loan for commercial purposes?
Flexible Funding lends against Residential Investment, Semi-Commercial, Commercial and Development properties.
I'm buying at auction and need funds fast. Is bridging an option?
Bridging is perfect for purchasing investment properties at an auction due to the speed they can be completed.
My credit rating isn't ideal. Will this stop me getting a bridging loan?
We do not lend on a credit score basis. We will look at the client and asset on an individual basis.
Do I need to speak to a broker to take out a bridging loan?
You can arrange finance with us via a broker or just by calling us direct.
How long will it take to arrange a bridging loan?
Usually completion can be achieved very speedily – often within a few days. The speed of completion is usually dictated by the borrower and their lawyers in providing the information we require, both to our underwriting and legal requirements.
How long can I borrow for?
We provide loans typically for up to 12 months.
Can I repay my loan early?
Our minimum charge for credit is 3 months interest. You can repay your loan at any time.
Is there a lot of paperwork?
We keep your paperwork to a minimum. Solicitors handle the majority of what is required.
If I'm buying a residential investment property what % of the value can I borrow?
We lend up to 75% LTV of Residential Investment property. We do not lend on owner occupier property.
Is there a minimum amount?
Our minimum loan size is £100,000.
How are bridging loans secured?
Bridging loans are secured against your property or land.
Are owner occupiers eligible?
No, Flexible Funding does not lend on owner occupied properties.
Can I borrow against my family home?
No, Flexible Funding is an unregulated lender and does not offer owner occupied loans.