Bridging Finance with GPS Financial
GPS Financial are expert bridging loan brokers with experience in helping residential and commercial clients access competitive short term finance.
A bridging loan is a short-term that is usually used for property-related purposes. Bridging loans are used to ‘bridge’ the gap between traditional mortgages or to help when you’re buying and selling property.
A bridging loan can be:
- For loans between £25k and £25 million
- Competitively priced compared to alternatives
- For periods of between 1 to 36 months
Best Bridging Loan broker
Finance is a serious business, but we at GPS Financial appreciate there are always people behind the numbers.
We work in partnership with you to help you achieve your ambitions.
We have extensive knowledge of the finance market and can provide a variety of bridging loans from leading lenders from across the industry.
We’ll work with you to secure cost-effective finance for any property transaction anywhere in the country.
A bridging loan broker can help you with:
Making use of the expertise and proficiency of an experienced broker means capitalising on their ability to organise all aspects of bridging finance in the best possible way.
The upside is that it can make meeting exit strategy demands much easier. Additionally, it can help you structure and arrange the remainder of the funding for the project.
How does a Bridging Loan work?
A bridge loan is a short-term loan designed to help you purchase a new property before you have sold your existing one.
It is usually used when residential or commercial property needs to be bought quickly, and the buyer doesn’t have enough money available.
The finance broker will assess the situation and decide whether to offer a bridge loan, which could be either regulated or unregulated. The borrower will need to pay back the loan within a specified period of time, with an exit strategy in place for repayment.
Bridging lenders will require borrowers to pay a valuation fee before they approve the loan. This fee covers the cost of having an independent expert assess the value of the property being purchased.
If approved, once you have sold your existing property, or obtained an additional mortgage if needed, you can use these funds to repay the loan.
Bridging lenders usually require that you pay off their loan in full as soon as possible.
How a Bridging Loan Broker can help
A bridging loan broker can be an invaluable resource when considering a bridge loan. Working with a broker will give you access to a variety of lenders and will be able to find the best rate for your commercial property.
One of the main benefits of using a bridging loan broker is their expertise in finding the best possible bridging finance for you. They understand the process, have experience with exit strategies, and know what options are available.
By using a bridging loan broker, you ensure that you get the best rate and terms for your bridging loan, as well as any advice or guidance that may be needed along the way.
This makes it easier to secure the funds required and helps ensure that everything goes smoothly.
There are many advantages to using a bridging loan broker, so if you’re thinking about taking out bridging finance then it’s definitely worth considering one of these finance specialists.
Speak To An Expert
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.
How much does it cost to use Bridging Loan Brokers?
A bridging loan broker is a specialist who works with lenders to arrange bridge loans. They are responsible for finding the most suitable lender offering the best rates and terms for a particular mortgage.
A bridging loan broker can also provide advice on the most cost-effective way to finance any type of property purchase, making them an invaluable resource when it comes to arranging bridging finance.
Generally speaking, they charge a fee for their services, and this will depend on the type of loan being taken out and the complexity of the situation.
This fee can be quite expensive as brokers have access to a wide range of lenders and must do extensive research into each case in order to find the best deal for their clients.
Ultimately, using a bridging loan broker can save time and money for those looking to take out bridge loans or other types of mortgages.
How much can I borrow through Bridging Finance?
When it comes to bridging loans, the amount you can borrow depends on a variety of factors.
A lender will usually require an independent valuation of the property in question, and this valuation is used to determine the loan amount that can be borrowed with bridging finance.
For example, If you were buying a property priced at £400,000 with a 75% bridging loan you will borrow £300,000. An arrangement fee of 2% would total £6,000. If interest is charged at 0.5% per month and you pay the loan back after 6 months, the total interest total would be £9,000. The total cost of borrowing would therefore be £15,000.
An exit strategy will also need to be provided, as lenders want to know that you have a plan in place for how you intend to repay the loan.
Depending on your individual situation, you may be able to borrow up to 75% of the value of the property from a bridging finance provider.
It is important to research what types of bridging loans are available and shop around for a lender who offers the best terms for your needs.
Why choose GPS Financial
If you need short-term finance for a purchase, development or something else, you need a specialist bridging finance broker like GPS Financial.
The broker team will do everything to secure finance for you, so you can feel comfortable while we look for the best financial deals.
GPS Financial are award-winning property finance specialist based in Cardiff, taking home the award for Best Firm: Bridging & Commercial in 2022, selected by Dynamo for Intermediaries, one of the country’s foremost Mortgage Clubs.
Want the best deals and competitive broker rates! Contact the experts GPS Financial Today! Fill in the contact form at the top of the page and one of our financial advisors will be in touch.