What is a bridging loan?
It is an interest only, short term loan secured on land or property

What can I use a bridging loan for?
You can use a bridging loan for any legal purpose.

What type of property can be used as security?
Quick Bridge will accept residential freehold and leasehold property, commercial property and land. All property used as security must be in England or Wales.

What is a 2nd charge?
If you have a property with an outstanding mortgage, that mortgage lender will have the 1 st charge over your property. If there is sufficient equity available within the property, Quick Bridge (the 2nd lender) can lend you additional funds and we place a 2nd charge on the property.

What is the minimum and maximum loan?
Minimum loan is £26,000 and maximum £1,000,000.

Can I borrow 100% of the purchase price?
Yes, you can borrow 100% of the purchase price if you have additional property or properties to offer as security.

How long can I borrow the money for?
Quick Bridge lends money form 1 day to 9 months.

Can I repay my loan early?
Yes you can. As Quick Bridge charges daily interest and no redemption penalties, you will repay the amount you borrowed.

Can I make capital reductions?
Yes, you can reduce the outstanding balance and monthly payments.

How much will a bridging loan cost me?
Interest rates start from just 0.75%. Other costs include an arrangement fee and solicitor costs.

Can I add the interest payments to the loan?
Quick Bridge will allow you to roll some of the interest up into the loan rather than make the monthly payments.

Why is a bridging loan more expensive than a regular mortgage?
Bridging is more expensive than a regular mortgage as it is a short term financing facility. Traditional mortgages are loans over 25 years whereas bridging loans run from 1 day to 9 months with the average term being 3 months. Warning: Although bridging is expensive, choosing the wrong lender can make it very expensive.

What are the other costs?
Valuation fee on all properties offered as security, lenders arrangement fees, lenders solicitors fees.

What are the exit / redemption fees?
We have no exit or redemption fees.

Do I need my own solicitor?
No, however it is recommended that all borrowers seek independent legal advice prior to signing any legal documents.

How long does it take to arrange funds?
Bridging loans can be arranged as quickly as 72 hours but this is the exception rather than the norm. Loans take on average 5-10 working days to arrange.

I have a bad credit history, arrears or CCJ’s does this affect my application?
No, Quick Bridge offer non status lending, so your credit history does not affect your ability to get a bridging loan or its terms.

I am self employed or have no accounts does this matter?
No, Quick Bridge lend on a non status basis.

Can a Limited Company take out a bridging loan?
Yes, but the directors will be required to give personal guarantees.