85% LTV Bridging Loans
GPS Financial is an award-winning finance company that can arrange 85% LTV bridging loans to homeowners, developers, investors and landlords for any property use.
If you need cash in a hurry to secure a deal, complete a project or prepare a property for a traditional mortgage, we can help.
Thanks to our relationships with leading lenders, GPS Financial can provide competitive 85% loan to value finance of between £25,000 to £25 million for periods of up to 12 months. That’s way above the typical 75% LTV ceiling.
You can use a 85% LTV bridging loan to:
- Support a chain break to complete a property purchase
- Take advantage of a time-sensitive property deal
- To convert a building so it qualifies for traditional finance
- Buy a property at auction
- Any reasonable use related to property purchase, conversion or development
85% loan to value
85% loan to value finance can bridge the gap to enable you to complete a development, secure a property at auction, support a chain break or a multitude of property uses.
With a property market that’s as fast as ours, speed is key. That’s why GPS Financial provides fast, no-obligation quotations and speedy decisions on all bridging loans.
Borrow between £25,000 to £25 million for periods of up to 12 months at competitive rates with GPS Financial!
How does a Bridging Loan work?
Bridge loans are typically secured against the borrower’s existing property and are usually repaid within 6 to 12 months.
However, if the borrower is unable to repay the loan in full, the lender may charge higher interest rates to offset the risk of default.
A bridge loan differs from a traditional mortgage in that it is designed to be a temporary financing solution rather than a long-term investment.
This means that lenders who offer bridging finance tend to charge higher interest rates than those offering traditional mortgages.
Ultimately, bridge loans can be an effective way for borrowers to purchase a new property without having to wait for the sale of their existing home, but it’s important to carefully consider the terms and conditions before proceeding with this type of loan.
What can you use a Bridge Loan for?
One of the most common reasons to obtain a bridge loan is to buy a property while waiting for funds from the sale of another property.
For instance, if you want to buy a new property but have not yet sold your current one, a bridging loan can bridge the gap between the sale and purchase.
Additionally, a bridge loan can be used to fund renovations on an existing property to increase the value before applying for a long-term mortgage.
This type of loan can also be useful for investors who want to purchase a property that needs significant repairs or upgrades before applying for a long-term mortgage.
A bridge loan can provide the necessary funds for temporary ownership of a property while waiting for long-term financing or selling the property.
GPS Financial offers a range of bridging finance depending on the use case, these can include:
- Commercial Bridging Loans
- Bridging Loan Property Purchase
- Bridging Loan for Property Development
- Regulated Bridging Loan
- Auction Bridging Finance
- Bridging for Refurbishment
- 100% Loan To Value (LTV) Bridging Loans
- 80% Loan to Value (LTV) Bridging Loans
- 75% Loan to Value (LTV) Bridging Loans
- Bridging Loans for Unmortgageable Properties
How much can you borrow with a Bridge Loan?
The amount that can be borrowed using a bridge loan will depend on the value of the property that is being used as security.
Typically, lenders will offer bridge loans up to 70% – 85% of the value of the property that is being secured against the loan.
This means that the borrower will need to have some equity in the property to be able to access bridging finance.
In some cases, lenders may consider offering a higher loan-to-value ratio, but this will depend on the individual circumstances of the borrower and the property in question.
As bridge loans are intended to be a short-term solution, they typically have higher interest rates than traditional loans. Therefore, it is important for borrowers to have a clear plan for repaying the loan as soon as possible.
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What are the criteria to get Bridging Finance?
To get a bridging loan, the borrower must apply for the loan amount, which is usually based on the valuation of the property.
The lender may require the property to be valued by an independent valuer to determine the loan amount.
The criteria to get a bridging loan may include a solid repayment plan as the loan is typically short-term, lasting 6 to 12 months.
The borrower may also need to provide collateral such as property or assets to secure the loan.
The lender may also consider the borrower’s credit history to ensure that they have the ability to repay the loan.
Ultimately, the amount of bridging finance that will be granted depends on the value of the property and the lender’s risk assessment of the borrower.
Why choose GPS Financial
GPS Financial was established in 2011 with the aim of addressing the difficulties associated with complicated mortgage paperwork and inaccuracies in property information.
We will take care of everything and handle all aspects to ensure that we find the perfect financial solution to meet your needs.
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 group of experienced brokers who possess considerable expertise in the field. We have connections with all the premier lending institutions, ensuring that you obtain the best benefits and excellent service.
If you’re considering a 85% LTV 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.