80% Net LTV Bridging Loans
GPS Financial provides short term 80% net LTV bridging loans for companies or individuals who need temporary funds for property refurbishment and development.
If time is tight or you need to finance a development so it qualifies for a mortgage, we can help.
We work with homeowners, developers, landlords and investors to deliver competitive short term finance.
We can arrange 80% net LTV bridging loans from £200,000 to £25 million for periods of up to 18 months.
You can use an 80% LTV bridging loan to:
- Convert an office to residential under permitted development rights
- Heavy refurbishments including extensions and loft coversions
- Refurbish or convert a property for rent or resale
- Develop a property so it qualifies for a residential or commercial mortgage
While 75% is the typical maximum loan to value, GPS Financial has the ability to arrange higher value loans up to 80% LTV.
We’re an award-winning property finance company that delivers fast, flexible bridging loans to help complete a purchase, conversion or development.
80% LTV bridging loans are specialty products for property developers and investors allowing you to put less money down on day one.
Loans can be arranged in days and cash available shortly after, ideal when the property market moves so fast.
With competitive rates, expert advice and access to a wide pool of lenders, GPS Financial is the obvious choice!
What is a Bridging Loan?
A bridging loan, also known as a bridge loan, is a short-term loan that is secured against a property or asset. Typically, it is used to bridge the gap between buying a new property and selling an existing one or buying a dilapidated property to convert or refurbish.
This type of loan allows homeowners to access funds quickly and easily, without having to go through the lengthy process of obtaining a mortgage from a traditional lender.
The loan is secured against the property, which means that if the borrower fails to repay the loan, the lender has the right to take possession of the property.
The bridging market has become increasingly popular as more people look to use a bridging loan instead of a traditional secured loan.
These loans are typically repaid within a few months, and borrowers need to be sure they will be able to repay their loan within that time frame.
How does a Bridge Loan work?
Bridge loans work by providing a borrower with quick access to cash, enabling them to buy a new property before selling their existing house.
Bridging loans are usually for a set period of time and for no more than 18 months
Typically, bridge loans have higher interest rates than traditional mortgages, and the lender will require you to provide security, such as a property or other assets.
Once you sell your old property, you can then use the proceeds to repay your bridging loan.
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Giving you peace of mind while you sit back and let us do all the work for you while finding you the best deal for your financial situation.
What can you use a Bridge Loan for?
Bridging loans can be used for a variety of purposes, including:
- Commercial Bridging Loans
- Bridging Loan Property Purchase
- Bridging Loan for Property Development
- Regulated Bridging Loan
- Auction Bridging Finance
- Bridging for Refurbishment
- 100% Loan Top Value (LTV) Bridging Loans
Business bridging loans, on the other hand, are designed for entrepreneurs who need to finance a business venture quickly.
In general, a bridge loan can be used for any purpose that requires short-term financing.
However, these types of loans are not suitable for long-term financing needs and borrowers should be aware of the high-interest rates associated with bridge loans.
How much can you borrow with a Bridge Loan?
When considering borrowing with a bridge loan, the amount that can be obtained through bridging finance is reliant on the value of the property that is being put forward as collateral.
In general, lenders will offer a loan amount that is equivalent to a percentage of the property’s value, typically anywhere from 70-80%.
This means that if a property’s value is appraised at £500,000, for example, a borrower could potentially secure a bridge loan for up to £400,000.
However, it should be noted that bridge loans are primarily intended as short-term financing solutions and therefore are typically offered for shorter repayment periods, generally a six to twelve month duration.
Overall, the amount that can be borrowed with a bridge loan largely depends on the property value and the lender’s particular terms and conditions.
Why choose GPS Financial
Established in 2011, GPS Financial aimed to eliminate the challenges that come with managing paperwork and incorrect details that are linked to mortgaging your real estate.
We will take care of everything, so you can rest assured knowing we are looking for the most suitable financial solution for you.
Based in Cardiff GPS Financial is an award-winning property finance specialist, taking home the award for Best Firm: Bridging & Commercial in 2022, selected by Dynamo for Intermediaries, one of the country’s foremost Mortgage Clubs.
The team at GPS Financial is a team of friendly brokers who have extensive experience in the industry. We have access to all the top lenders, guaranteeing you receive the most value and best possible service.
If you’re considering a quick bridging loan or need fast finance for a project, contact the experts GPS Financial, fill out the form at the top of the page and one of our expert advisors will get back to you.