Bristol Bridging Loans

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Bridging Loans in Bristol

GPS Financial is an award-winning broker with access to a selection of competitively priced bridging loans in Bristol. If you’re trying to compete in one of the country’s fastest-moving property markets, we can help!

We provide Bristol bridging loans up to 85% LTV at very competitive rates. Whether you’re buying a commercial or residential property, borrow between £25,000 to £25 million for periods of up to 12 months.

Quick decisions, finance within days and competitive rates!

Bridging loans in Bristol can be used to:

Support a broken property chain
Purchase a residential or commercial property while your mortgage is being processed
Buy the property you want in a fast-paced market
Convert or develop a property so it qualifies for a standard mortgage
Buy a property at auction
Purchase land or property for business purposes
Any reasonable residential or commercial property-related use

Bristol bridging loans from GPS Financial

Bristol has one of the most competitive property markets in the country. Both residential and commercial properties are in short supply with high demand.

Time is of the essence with any property purchase, which is where bridging loans come in.

Purchase your dream home, the perfect property or your next investment using competitively priced finance from an award-winning provider.

Contact GPS Financial for a free bridging loan quotation, quick decisions and dependable finance.

Bridging Loans explained

A bridging loan is a type of short-term loan that provides flexible funding for various purposes, such as buying and renovating a property. A bridging loan is usually secured by a property or asset that the borrower owns or intends to buy. The loan amount, interest rate, and repayment term are determined by the value and condition of the security, as well as the borrower’s creditworthiness and exit strategy.

Bridging loans can be very useful when the borrower needs to access cash quickly, for example, to complete a property purchase before selling their existing home, or to fund urgent repairs or improvements on a property. However, bridging loans can also be very expensive if the borrower cannot repay the loan within the agreed term, which is typically between 3 and 18 months. The interest rates for bridging loans are usually much higher than standard loans, and there may be additional fees and charges involved. Therefore, it is essential that the borrower has a clear and realistic plan to repay the loan in full before the term ends.

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What’s an exit strategy?

An exit strategy for a bridging loan is a plan that outlines how the borrower will pay back the loan in full prior to the loan term end. Bridging loans are designed to be a short-term funding solution and although they are very useful when needed, they can be a lot more expensive than longer-term debt. Therefore, it is crucial that the borrower has a reliable and realistic exit strategy to avoid defaulting on the loan or paying high fees.

Some of the common exit strategies for bridging loans are:

Refinancing the loan with a standard loan: This involves taking out a longer-term mortgage or another type of loan to repay the bridging loan. This is suitable for borrowers who need to bridge a gap in their cash flow or who are waiting for a more favourable lending condition.
Selling the asset: This involves selling the property or asset that was used as security for the bridging loan. This is suitable for borrowers who are buying and selling properties, such as developers, investors, or homeowners who are moving to a new house.
Selling another property or asset: This involves selling a different property or asset that was not used as security for the bridging loan. This is suitable for borrowers who have multiple sources of income or wealth and who can liquidate them quickly.

It is important to note that not all exit strategies are equally viable or acceptable for all lenders. Some lenders may have specific requirements or preferences for certain exit strategies over others. Therefore, it is advisable to consult with a professional broker or adviser before applying for a bridging loan and choosing an exit strategy.

Why choose GPS Financial?

A specialist finance broker like GPS Financial can help you get the loan you need for your Bristol property. They can connect you with a range of lenders and find the best deal for you.

GPS Financial have decades of experience in securing property finance with low-interest rates, making sure you get the most suitable loan for your project.

GPS Financial are award-winning property finance experts, winning the Best Firm: Bridging & Commercial award in 2022, selected by Dynamo for Intermediaries, one of the leading Mortgage Clubs in the country.

If you need a bridging loan in Bristol, contact GPS Financial today, fill out the contact form at the top of the page and one of our advisors will get back to you with expert advice and competitive rates.