Bridging loans for any purpose
We can secure your bridging loan with expert knowledge and long-standing lender relationships.
- Day one decision in principle
- Best rates on the market
- Up to 100% LTV
- Bad credit and non-status acceptable
- Auction purchases
What is a Bridging Loan?
A bridging loan is a short-term finance product that bridges a gap when purchasing a property, such as:
- Securing a property before completing the sale of your existing property
- Buying an auctioned property and needing the finance at the point of bidding
- Buy-to-let property
- Commercial property purchase
- Refurbishment and sell projects
- Any other gap that needs short-term property finance
At the end of the bridging loan, which is normally 12 to 24 months, you’ll need to repay the balance using sale of property, a new mortgage or other capital
How long does it take to arrange?
The nature of a bridging loan means you need speed and efficiency in any application made.
Once you have submitted an enquiry, we will get an initial decision to you in 1 hour (within our working hours) and contact you at your earliest convenience to progress your application. Speak to us today
Helping one customer with bad credit to take out a bridging loan
One customer wanted to downsize but was struggling to get finance because of his bad credit.
With our specialist team, he was able to:
- Secure a bridging loan of almost £600,000 over a 12-month term to improve his financial situation
- Pay off existing mortgage and arrears
- Sell his property to buy a smaller home and pay back his arrears to the original lender
Our customer wanted to pay off the arrears on his existing mortgage. He was struggling to secure a remortgage with his original lender because of his age, amount needed and low credit score. This was because he’d missed some mortgage payments due to cash flow issues within his business.
We worked closely with the customer to match him to another lender which was happy to offer him a bridging loan, which covered his costs.
This meant the customer could gain control of his financial situation, using the bridging loan to clear his existing arrears with the original lender. The customer was then able to sell his property and downsize, making his finances more manageable going forward.
Free initial no obligation advice on Bridging Loan
6 Great reasons to choose Clever Mortgages
Specialists in bad credit
Every member of our team is trained in bad credit situations and know how to find the right solutions for customers – helping them get the mortgage that’ll get them back on track.
Over 100 lenders
The number and quality of lenders we work with means we have access to a diverse spectrum of best-rate deals. The lenders we use means we have all areas covered – even for those in particularly niche circumstances.
Not every case is the same
As each customer’s situation is unique, we take the time to understand your situation, and we carefully assess your goals and how we’ll make sure the mortgage we get helps you to achieve them.
Access To Exclusive Rates
The relationship we have with our lenders means we have access to products and deals that simply aren’t available to customers going direct. This is true particularly for those in adverse credit situations.
Offering the best support
We know that buying or moving house and getting a mortgage is stressful, so we do our upmost to make the process as hassle-free as possible. We’re there for you at every step, always keeping you in the loop.
We’re proud of our long-standing 5 Star Rating on Trust Pilot, and love all the positive feedback we get from customers every day. We feel privileged to help people get a great deal with far less stress.
Why use a mortgage broker?
Mortgage brokers can help you find the best deals on the market – not just from one lender. With a broker you’ll get:
- Valuable knowledge, through years of experience helping customers to find mortgages
- An improved chance at finding a mortgage, some mortgages are only available through a broker
- Help with the application process, as usually just one application can be used across various lenders
- Advice on how to improve your chances, for instance getting a guarantor or applying for a joint mortgage
About Clever Mortgages
We specialise in assessing an individual’s situation, and finding a best-fit mortgage solution for them. We can help:
- With remortgages, buy-to-let, and first-time buyers mortgages. We have experts over all of these areas
- Even if you’ve got bad credit – we help people every day with less than perfect credit histories to find the right mortgage
- With applications, as we’ll take the hassle away. We require your details once and we’ll know the best lenders for your circumstance
- Whatever your lending requirements. No matter what your circumstances are, we have access to a range of lending solutions, including secured and bridging loans
Our team know the lenders that are most likely to say ‘yes’, and to give the best rates
What should I do next?
You enquire online with us today or give us a call
Our simple form takes a couple of minutes to fill in, this gets the ball rolling
One of our experts will give you a call to find out more about your situation
We have experts in remortgaging, who focus solely on helping customers save money
We do all the hard work for you
We search the market for the trusted lender that’s right for you
Our expert will get back in touch
We can guide you every step of the way, and we’ll always keep you up-to-date with progress
Speak to a broker
Fran is a specialist mortgage broker, whose been working for Clever Mortgages for 7 years and has over 8 and a half years’ experience in helping customers with bad credit.
Call us on: 0800 197 0504