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Construction Bridging Loans

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Construction Bridging Loans

Construction bridging loans are designed to provide fast finance to businesses or individuals building a property for themselves or commercially.

They are typically used for ground-up construction but can also be used for significant development or renovation projects.

When time is of the essence or alternative finance is not available for your project, a construction bridging loan could be the answer.

GPS Financial is an award-winning broker who can help arrange construction bridging loans of between £25,000 to £25 million for periods of up to 12 months.

If you are looking to finance a new building development or want a bridging loan to cover the costs of an ongoing construction project, contact our expert team to discuss your needs.

What is a Construction Bridging Loan?

A construction bridging loan is a specialist type of short-term loan that’s suitable for building developments and large-scale renovation projects. It is designed to cover the cost of initial property construction until standard finance can be arranged.

Construction bridging loans are useful for:

 

The main benefit of a construction bridging loan is speed: you could have a decision in hours and the money within days.

If you’re in the middle of a fast-moving situation, that could be key!

Can I get a Construction Bridging Loan?

Construction bridging loans are available for anyone planning to build property for yourself or as a business. That includes property developers, construction companies and self-builders.

Bridging loans aren’t assessed in the same way that residential mortgages are. Rather than affordability and your credit score, lenders are more interested in your exit strategy and how you’ll make the payments to pay off the loan.

A typical exit strategy will be a standard residential or commercial mortgage, buy to let mortgage or other long-term finance.

As long as you can demonstrate that you can afford the loan repayments and have a solid exit strategy in place, you should be able to get a construction bridging loan.

GPS Financial has access to all the leading lenders, so your chances of being accepted can increase exponentially!

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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.

How long does it take to get a Construction Bridging Loan?

The time it takes to get a construction bridging loan depends on how long it takes to prepare your application.

The good news is, once your application is ready, you could have a decision on the same, or next, day and the money within a matter of days.

As experienced financial brokers, GPS Financial can assist with every aspect of your application. We’ll help you complete it, prepare the paperwork and present it to a lender.

You will need to prove that you can afford the loan repayments and demonstrate your exit strategy – these are the two main criterias that a lender will use to decide the rate and whether to lend.

We’ll work with you and the lender to come to an acceptable agreement that gets you the money you need at a competitive rate.

How GPS Financial can help

Authorised and regulated by the Financial Conduct Authority, GPS Financial has been providing expert advice and construction bridging loans in Cardiff since 2013.

Having been awarded Best Firm: Bridging & Commercial in 2022 by Dynamo for Intermediaries, one of the country’s foremost mortgage clubs, you can trust that we will provide the best possible service and find the best deal for your financial situation.

Our expert team are always on hand to assist with any aspect of your construction bridging loan.

We will do everything we can to ensure the success of your application and will be with you every step of the way. We’ll do all the hard work and help with preparing the application, formatting evidence, presenting the application and liaising between you and the lender.

GPS Financial works with a large pool of reliable lenders who are willing to provide construction bridging loans of between £25,000 to £25 million for periods of up to 12 months and up to 85% LTV.

If you are interested in a construction bridging loan or need fast finance for a project, speak with our friendly team today!

Why GPS Financial?

Leading property finance specialists
We remove the stress and the paperwork
Match you with the right deal for you
No case too big or too small