bridging loans

Bridging loans

Short term quick business loans that use property as security

In need of a short term loan to help with the purchase of an auction property, refurbishment or something else? A bridging loan may be best for you. The bridging loans we offer at Godwin Austen are usually available over a 12-18 month period and allow you to secured funding against properties or assets you own.

If you are in need of money for a short term and you have a considered and credible method for making a short term repayment, then riding loans can be a excellent business funding option. Auction properties often are hard to mortgage as they may need refurbishment before they can be mortgaged, this is the main purpose for a bridging loan. The short term funding can allow you to purchase the auction property and refurbish it up to a standard that it can be mortgaged and the loan can then be repaid.

Business Bridging loans FAQ

How much can I borrow on a bridging loan?

We can arrange business funding via a bridging loan from £10,000 up to £5 million. The standard amounts available tend to be up to 75% of the value of the property. Additional bringing loans can be taken out for additional properties, however lower amount percentages would be applicable.


How long can I get a bridging loan?

The standard period for a birding loan is 12 months, however depending on the property longer terms can be agreed or 18 – 24 months. Most longer term bridging loans would require interest payments to be made during the loan period.


How quickly can you arrange a bridging loan?

At Godwin Austen we can arrange a bridging loan in approximately 1 working week. On some occasions we can arrange the service within just 48 hours.


I have bad credit, can I get a bridging loan?

As the loan is secured against your owned property or assets, having poor credit isn’t a major factor in getting approval, however very poor credit would make it harder.


What will a bridging loan cost?

Interest would be charged per month of around 1.5%, but the exact amount depends on your circumstances, the property you are funding and your assets.


What are the fees for a bridging loan?

Usually there will be a 1% fee charged for arranging the loan and a 2% lender fee. In addition to these fees the standard practice is to pay the lenders legal and valuation fees.


Why should I use Godwin Austen to arrange my bridging loan?

As with most forms of business finance you are free to search and apply for a bridging loan on your own. The benefit of working with Godwin Austen is that we know which of the dozens of potential lenders will give you the best deal to suit your needs and also give you the maximum change of your application being successful. 


What do I need to be eligible for a bridging loan from Godwin Austen?

As the bridging loans are based on lending secured against assets, you will need to own your own property and/or significantly high worth assets.

A well considered exit plan for the bridging loan will also be imperative to getting an application approved.

Main benefits:If all of this sounds good and you think a bridging loan is the product for you, please give us a call or email us to make contact.

Or if you feel that our bridging loans are not suited to your needs please check out our other business finance services.
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