Unregulated bridging loans and regulated finance options.
Get in touch with us several ways.
Even if you are just shopping around to see if you can find the best deal, or if you have been refused a bridging loan elsewhere, please don't hesitate to get in contact with by phone, skype, email or messenger.
We will value your home to determine loan.
To understand if or how much you are able to borrow, we need to organise a completely independent valuation of your land, property or properties you are going to use as security. This is your only upfront fee.
Get an offer of finance almost immediately.
To learn if we are able to lend, the vaulation has to show ample equity in the your security. If this measures up, we can them make you an official offer. If there isn't enough equity, you get a revised offer.
Accept & we transfer funds instantly.
As long as all paperwork is present and correct, we can transfer funds to your personal, business or any nominated bank account instantly. We can also work your payment to a specific date if required.
Or call: 0845 475 1814
Unregulated and regulated bridging loans.
What is regulated?
The short term lending industry never used to have any type of regulation. Banks and private lenders alike used to offer funding solution's irrespective of people being able to actually afford the repayments. When the credit crunch happened, the UK Government insisted on putting stringent safeguards in place to protect the future economy. These regulations are still in place today and this is why we have regulated bridging loans. It is to make sure that people don't borrow more than they can afford to pay back. If you get funding to bridge a gap, maybe in a property sale chain break, a regulated bridging loan empowers you to live in the house that you used as security for the advance. Give us a call today for more information.
What is unregulated?
An unregulated bridging loan equates to financing that is set up outside the confineds of the banking guidelines put in place circa 2010. It isn't an illegal form of lending, it is simply done because it is quick and easy and technically only used for business purposes only. However, homeowners can use an unregulated bridge with certain stipulations. The main critera is that the actual borrower, or immediate family of the loanee are not allowed, under any circumstances, live in the house or home during the duration of the financing. This is because if a residential client defaults, they are not being made homeless should a repossession of the actual property by needed. Give us a quick call today for more information on what's the best deal for you.
Who offers regulated?
Most private banks offer regulated bridging loans. However, High Street banks and building societies tend not to. You do need to go to a specialist lender. Many independent lenders do ont offer a regulated option, most tending to stick to purely business or porperty investment short term finance. The main reason is that because off all the red tape put in place since the recession, it simply makes it not profitable enough to brige the gap reulated. We are different, we are experts in regulated bridging loans and can offer this type of option as a first or second charge for home owners. However, it does take longer to be set up due to extra legal paperwork. Give us a short call today for more information.
Who lends unregulated?
High street banks don't. You will find, or should have found if you have been looking to bridge a gap, that most of them, including building societies offer any form of traditional bridging loan. All lenders, privare and independent will offer short term, high value, property or land secured unregulated bridging loans. This is because of the ease of set up, including less paperwrok and it tends to be only business clients or property investors or developers that want to go down the unregulated route. We also offer unregulated bridging finance, but can extend it to homeowners as long as the actual owner or family members do not live in the house during the loan. Call for an informal chat for more information.
Unregulated bridging finance is an option?
Too understand whether you need a regulated bridging loan, you have to understand the fundamental difference. Firstly, the credit checks on a regulated bridge are a lot more stringent. Any hint of a history of late or unpaid credits on credit agreements will work against you. You need to be able that you are a reliable payer of your bills and also other credit agreements you may be in.
Secondly, and this is usually where people realise that they better going down the longer and more stringent route for a short term secured loan. You and your family are still allowed to live in the house they you have offered up as security for the bridge. If you want to stay in the home, you need a regulated bridging loan, or to completely remortgage.
Call on our local rate 0845 475 1814 from a land line or call 0203 287 7169 from your mobile or request a call back by using the quick contact form on the right hand side, or just below depending on whether you are browsing on a PC or mobile device. Alternatively, click the button for our full on enquiry form.
Unregulated short term secured bridge finance is usually reserved for business use or property development. This is because, it is quicker and easier to set up, and slightly more cost effective. It also requires almost zero credit checks as the funding is based on equity in the land, property, or properties used as security and not on your recent credit history.
Homeowners can borrow unregualted however you need to realise that, while it more easy to set up, can offer cheaper rates of interest, b offered on a 1st or 2nd charge basis, the person borrowing the money cannot, nor can family memebers, live in the house or home, or on the land that is used as security. If you are using the family home, then you will have to find somewhere else to live for the duration of the loan.
Call us on 0845 475 1814 or you can click below to apply online, or you are able to call us up from your mobile phone on the landline number 0203 287 7169 or request a call back by using the quick contact form on the right or directly below this block, still without being under any obligation to accept any offer presented to you. Alternatively, apply online by clicking the button.
Quick contact form
IVA or bankruptcy
If you are in fear of becoming IVA or are already registered on an Individual Voluntary agreement, you are able to use either regulated or unregulated bridging finance to clear all your debts and have the solvency exsponged. However, if you go for unregulated IVA loans you cannot live in the house. We can also offer tips on dealing with your supervisor.
If you are buying a property via an auction, dependant on your end game can determine which type of bridge to go for. If you buying simply because it is cheaper and intend living in the property, you need a regulated bridge. If you are developing the land or property with a view to sell on, then an unregulated business bridging loan is our option of financing for you.
County court judgements
County Court Judgements do affect which type of bridge you can get. If your CCjs are not settled, they show up as a big black mark on your credit report. Th is means that a regulated bridging finding package shouldn't really be offered to you. We do specialise in a bridge CCJs loan for people with multiple CCJ's against their name.