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Lloyds Bridging Loans, Interest rate, additional costs including Bridging Loan Calculator.

 

Lloyds Bridging Loans

Lloyds Bridging Loans Lloyds bank is one of the so-called top four high street lenders along with Barclays Bank, HSBC Bank and also RBS Natwest, the group was founded in Birmingham in 1765 and through various mergers and acquisitions it now forms the Lloyds banking group, significant deals were the merger with the trustees savings bank and then in 2009 following the financial crisis thew Lloyds Banking Group was formed after the acquisition of the retail bank HBOS which comprised Halifax and Royal Bank of Scotland, this turned out to be disastrous and the British government had to step in to bail out the bank with taxpayers money, the group has subsequently sold its stake after the group returned to profitability.

 

Lloyds Banking Group and its subsidiaries, offers all types of financial products including bridging loans and finance, personal loans, including secured and unsecured loans, they also offer mortgages and insurance products to personal customers, business lending is also available, including asset finance to purchase plant and equipment, overdrafts for both personal and business purposes, in fact, the range of financial products it offers covers most of the financial loans available in the market.

 

You should be aware that Lloyds Bridging Loans are usually only available to existing clients, it would be very unlikely that they would offer a bridging loan to someone who had no previous history with them.

 

Lloyds Bank Bridging Loan is a loan secured (Against Property) short-term loans are available for anything between 1 month and 18 months. There are many reasons for taking a bridging loan but the most usual one is to purchase  a residential property, before actually selling the one they already have a mortgage on, another popular one is if you were to be buying a property through a property auction, in these circumstances a buyer only has 28 days from the date of the auction to pay for the property in full, as they have to pay a 10% deposit on the day of the auction if payment is not made in full within the 28 days then they are in danger of losing the 10% deposit that has been paid, by utilising a bridging loan they can arrange the funding within as little as 7 days complete the purchase and then take their time arranging a mortgage or alternative finance on the property. A Lloyds bridging loan Calculator is not online at the moment, but we have one that will compare all UK loans.

 

Other reasons to take a Lloyds Bridging Loan could be because you need to get capital out of an existing property to cover another purchase or pay off some outstanding debts, Lloyds would very likely not offer this finance, as generally, banks do not like to lend to borrowers who are repaying debts with a loan, however there are many lenders who are more than happy to do this providing you have enough equity in the property you intend to offer as security and that you can also demonstrate to them how you will repay their loan, this could be anything from the sale of the property you intend to offer as a security, note if this is the case you will have to have the property on the market with an estate agent at a realistic price and be actively marketing it, the money to repay the loan doesn't have to come from the sale of the property you have secured the loan against, it could be from sal the sale of other assets you have that could release capital such as shares, sale of a business, a loan that is due to you or probate, basically as long as the lender can see where the funds will be coming from to repay their loan it is fine. As far as we know there is no Lloyds bridging loan Calculator, so you can use our calculator to work out your costs.

 

A Lloyds Bridging Loan Your Bridging Loan can be used for the following

 

 

  • Release equity that you have built up in a property that you own
  • Purchase an auction property before getting a mortgage.
  • Buy a Property before you have actually sold your own property

 

Bridging loans offer no restrictions on what the money is used for, as long as it is legal you are free to spend the money on anything that you need it for. 

 

 

Criteria for a bridging loan  and finance

 

  • Loans can be for as little as £30,000 with no maximum amount
  • Loan times are from a week up to eighteen months.
  • Loans can be paid out in as little as one week.

 

 

As specialist bridging loan brokers we will always find the most competitive loan for your current circumstances


 

Use our online form or give us a call and we can discuss your requirements in more detail and advise on what the best loan is for your current situation.

 

With over 20 years experience you can be assured of the very best help and advice from our team.

 

 

We are an FCA regulated firm

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Lloyds Bank Bridging Loans