Getting more and more attractive

There has been a flurry of activity in the bridging loan sector recently as lenders in both the regulated and non-regulated look to re-price their products downwards. We are pleased to let you know bridging loans are at their lowest rates this sector has ever seen. Great news for borrowers indeed, this is without doubt one of the contributing factors to bridging’s rapid growth over the last 2 years. This type of loan has been getting less expensive as competition for business intensifies plus new funding sources are increasing as well.

 Lenders are now looking for ways to attract more business, we are now seeing them offering assistance towards the survey fee as an example. This type of activity has in the past always been reserved for the conventional mortgage market but not any longer it would seem. So before you decide which lender to use in the future do check out what deals are on offer from an alternative bridging loan provider.

Speed is important

We are always asked with virtually every case we do “how quickly can this be done”. The answer is every case will vary due to the complexity of the deal. The average time currently to complete on a “clean case” is 9 business working days. This of course could be significantly less in some cases especially if it is just a straight forward purchase. We at Fastest Bridging always ask our client to follow these golden rules to help us to help them.

1, Good fast communication

2, Skype contact details

3, Return applications rapidly

4, Easy access to the property for the survey

5, Internet access & scanner

Need some advice

If you require assistance with your next bridging loan please do call one of our expert advisers who will be happy to help.