A residential bridge loan gives you a real alternative right when you need it. Bridging loan applications tend to be turned around within days..
This means that a time-sensitive purchase can go through easy and stress-free. No matter if your new investment is big or small, Glenhawk offers flexible bridging loans that fit to your situation and requirements. Loans range from £500,000 to £5,000,000 with a loan to value of up to 75%.
So, how does a residential bridging loan work?
Unlike other types of property finance, a bridging loan is wonderfully simple: you take out a short-term loan that covers your new property purchase, while you wait for your main funding stream to become available. For example, if you’re selling your house, but the buyer is unable to complete for an extended period, you can use the bridging loan to make your new purchase while you wait for your investment sale to complete. Or, if you have a mortgage in progress but need to move now, a bridging loan can be taken out against your property while your mortgage application is processed.