If you are looking for a London Bridging Loan then you have a good chance of getting some of the best rates in the UK as many of the eighty plus lenders are based in London, they know the market well and are very comfortable in offering loans in the capital, they know even when the market is down they will always be a buyer for properties as long as they are priced right, they also understand the prices that are paid are far more than for instance in the Midlands or the northern areas of the UK where the thought that a studio could be worth up to half a million pounds seems crazy, because so many lenders are based in the capital they compete for the business meaning the interest rates become evermore competitive with some rates as low as 0.4% per month, these lenders also use London based surveyors to carry out valuations who understand the unique prices that property is worth.
Bridging loans come with arrangement fees that are based on the amount of the loan that you require this is one to two per cent of the loan and all lenders will charge this fee, on top of this will be fees to pay for the lender's legal team to deal with your application and then you will have to factor in for your own solicitor to deal with the loan on your behalf, they are all agreed before you make the loan application interest rates are also agreed before your application and will be quoted on a monthly basis rather than yearly as with a mortgage, you have to note that a 0.4% monthly interest rate is actually 4.8% when calculated over a twelve month period.
As a master broker based in central London, we have been arranging London Bridging loans for many years and have close relationships with all of the main lenders.
Get in touch you can call us anytime 24/7 or fill in the form on this web page and we will contact you to provide your quote.
With over 20 years experience you can be assured of the very best help and advice from our team.
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