What Is the Quickest Way to Get Bridging Loans? Advice From the UK Bridging Loan Experts

When you need bridging finance, you need it now. There are multiple ways in which a bridging loan can help you move quickly, manage challenges as they arise and inject funding into a project swiftly.

Here at Glide, we appreciate that many people, businesses and industries are looking for creative ways to stand the test of time as the Coronavirus pandemic affects the way we live, work and travel.

Let’s take a look at our top tips for securing the bridging loan you need when you need it!

01

Identify What You Need Your Bridging Loan For

It sounds simple, but to get a fast turnaround on your bridging loan application, it is essential to know what you need your loan for, and for how long.

This type of fast financing is ideally suited to help with property investments. Giving buyers immediate cash to finance their purchase when time is of the essence.

However, you can also secure a bridging loan to help with any other short-term borrowing requirements, such as:

Tiding over your cash flow pending revenue streams due in
Shoring up your business finances in short-term periods of slow trading
Consolidating lending, or creating an extended period within which to repay borrowing
Financing an investment opportunity where time is limited

If you know how much you need, what your bridging loan will be secured against, and how long you wish to borrow for – you’re good to go!

Should you be unsure of any of the parameters, not to worry, give Glide a call and we will walk through all the options and the steps with you. Helping you make calm and informed decisions about which direction to move forward in.

02

Compare the Bridging Lending Market

You will find that the terms, rates and security required by different lenders vary significantly. Many of our clients have relied on mainstream high street lenders for many years, only to realise that the bridging loans available are at a cost far higher than those available from specialist lenders.

Whether your bridging lending is for 1 year or 5, £25,000 or £25 million, you need to make sure you are getting the best bang for your buck.

Over time, slightly higher interest rates can create a big dent in your budget, and cost far more than you may realise in interest fees.

If you would like independent, personal advice about the best bridging loan rates on the market, give our friendly team a call!

Glide scours the market to identify the most optimal rates, terms and lending for every client – we do the leg-work so that you can borrow with confidence, without the stress.

03

Work Out Your Bridging Loan Security

Lenders will always need some kind of security against which to offer your bridging loan. Most often this is property and might be tied in with the purpose of your borrowing.

For example, if you need a bridging loan facility to invest in a property purchase, the value of that loan will usually be secured against the property you are buying. Investors and buy-to-let landlords may decide to secure lending against different properties in their portfolio, or you might prefer to use a different form of security.

Security matters because this is the asset which you ‘put up’ and allows a bridging loan lender to offer you a facility. The more robust and secure the security, usually the higher the lending limit and the more favourable the rates and terms you will be offered.

If you are unsure as to what sort of security you can offer, or what extent of security you need to provide to secure the bridge lending you need, please get in touch.

Glide is a modern, fast-moving finance team with a focus on straightforward, honest advice. We can help you understand how security works, what might be most viable in your circumstances and even recommend how to secure lending against the security you have to hand.

For professional tailored bridging loan advice, contact Glide. Our team of bridging loan experts can help you review all your options and find the ideal lending to suit your needs. Calm, straightforward advice – for lending less complicated.

Call us on 03301 332233 or send us your details at hello@askglide.co.uk, and we will be in touch soon!

Speak to Us Directly

Get in touch to get a bridging loan fast.

Head office Address: G4, 10 Whittle Road, Wimborne, BH21 7RU
Glide is a trading name of Glide Property Finance Ltd.
Glide Property Finance Ltd. trading as Glide is registered in England and Wales. Company number 15030064.
Glide are not regulated by the Financial Conduct Authority; certain types of loans are not regulated, for example loans for business purposes. Glide only offer loans for business purposes.
THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR PROPERTY.
YOUR PROPERTY MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY OTHER DEBT SECURED ON IT.
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