{"id":370645,"date":"2021-02-02T17:20:39","date_gmt":"2021-02-02T17:20:39","guid":{"rendered":"https:\/\/www.finder.com\/uk\/?p=370645"},"modified":"2024-01-22T07:38:30","modified_gmt":"2024-01-22T07:38:30","slug":"bridging-loans-with-bad-credit","status":"publish","type":"post","link":"https:\/\/www.finder.com\/uk\/mortgages\/property-flipping\/bridging-loans-with-bad-credit","title":{"rendered":"Bridging loans with bad credit"},"content":{"rendered":"

Bridging loans are a type of short-term finance designed to bridge the gap between having to pay for something or clear a debt and being able to get the money to do it.<\/p>

For example, you might need to buy a new home before your old one is sold but can\u2019t get a mortgage to buy the new property until your existing mortgage has been paid off by the sale. You could use a bridging loan to buy it and then pay the loan off when you sell the other property and can get a mortgage on the new one.<\/p>

Bridging loans are also much quicker to arrange than mortgages so are useful if you need funds quickly, such as to buy a property at auction that you don\u2019t want to miss out on.<\/p>

Compare bridging loans and rates<\/h3>
Table: sorted by monthly interest rate<\/div>
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5 of 24 results<\/span><\/small><\/div>
<\/use><\/svg>Updated\n\t\t\t\t\tregularly<\/span><\/a><\/span><\/use><\/svg>Share<\/span><\/a><\/span><\/div><\/div>
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\n Maximum LTV\n <\/use><\/svg><\/use><\/svg><\/use><\/svg><\/th>\n Loan term\n <\/use><\/svg><\/use><\/svg><\/use><\/svg><\/th>\n Loan amount\n <\/use><\/svg><\/use><\/svg><\/use><\/svg><\/th>\n Monthly interest rate\n <\/use><\/svg><\/use><\/svg><\/use><\/svg><\/th><\/tr><\/thead>\"Octopus
<\/div>
Octopus Bridging Loan<\/span><\/span><\/div><\/td>
\n 70%\n <\/div><\/td>
\n 1 to 23 months\n <\/div><\/td>
\n \u00a350,000 to \u00a31,000,000\n <\/div><\/td>
\n 0.55% to 0.75%\n <\/div><\/td>
Get quote<\/a><\/use><\/svg> View details <\/a><\/div><\/td>
<\/div>
\"Market
<\/div>
Market Harborough Bridging Loan<\/span><\/span><\/div><\/td>
\n 70%\n <\/div><\/td>
\n 1 to 60 months\n <\/div><\/td>
\n \u00a3200,000 to \u00a35,000,000\n <\/div><\/td>
\n 0.57% to 0.82%\n <\/div><\/td>
Get quote<\/a><\/use><\/svg> View details <\/a><\/div><\/td>
<\/div>
\"United
<\/div>
United Trust Bridging Loan<\/span><\/span><\/div><\/td>
\n 75%\n <\/div><\/td>
\n 1 to 24 months\n <\/div><\/td>
\n \u00a350,000 to \u00a315,000,000\n <\/div><\/td>
\n 0.61% to 0.95%\n <\/div><\/td>
Get quote<\/a><\/use><\/svg> View details <\/a><\/div><\/td>
<\/div>
\"Precise
<\/div>
Precise Bridging Loan<\/span><\/span><\/div><\/td>
\n 75%\n <\/div><\/td>
\n 1 to 18 months\n <\/div><\/td>
\n From \u00a350,000\n <\/div><\/td>
\n 0.62% to 0.82%\n <\/div><\/td>
Get quote<\/a><\/use><\/svg> View details <\/a><\/div><\/td>
<\/div>
\"Glenhawk
<\/div>
Glenhawk Bridging Loan<\/span><\/span><\/div><\/td>
\n 75%\n <\/div><\/td>
\n 3 to 24 months\n <\/div><\/td>
\n \u00a3100,000 to \u00a310,000,000\n <\/div><\/td>
\n 0.64% to 1.15%\n <\/div><\/td>
Get quote<\/a><\/use><\/svg> View details <\/a><\/div><\/td>
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