Short term bridging loans from Charterbank are available to help with your finance needs with products available from 3 – 12 months.
Whether you seek finance to secure a new property or want to raise a loan on an existing property, Charterbank can provide a non-status short term loan quickly. We tailor lending to fit your finances and timescales, including providing loans to those with adverse credit.
Products from 3 – 12 months • Immediate decisions • Up to 65% (net) LTV • Individuals and companies accepted • No monthly interest payments • No upfront fees • No exit fee
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What is a short term bridging loan?
Short term bridging finance from Charterbank is available to assist borrowers with cash flow when a traditional mortgage is not appropriate. It is typically suited to borrowers who need money quickly, such as when buying a property without another asset being sold, or when requiring cash flow for business purposes. Our short term bridging finance can meet the tight timescales some borrowers require. Other scenarios include:
- Improvement or renovation
- Obtaining an EPC or EPC improvements
- Buying a property in a poor condition
- Buying a property with structural issues
- Legal challenges
- Re-bridging or re-financing
Helping clients secure capital
On their terms
How can a short term bridging loan be used?
Short term bridging finance can be used to purchase a residential, mixed-used or commercial property. Equally the bridge loan can be used to re-finance a property, even where an existing bridging loan has expired or is in default. The financial circumstances of a borrower are not the deciding factor as to whether a loan is approved. This means Charterbank can provide short term bridging finance to customers who have been let down by other lenders. How the money is spent is not restricted to the purchase or re-bridging of a property. A short term bridge loan can be used for improving or refurbishing a property as well as navigating any legalities.
Is short term bridging finance for you?
Individuals, limited companies, LLP’s, partnerships and some pension schemes can secure a short term bridging loan. With Charterbank the decision making and underwtiting process for all of our bridging finance options is asset based – what we refer to as non-status bridging finance. This means the financial circumstances of a borrower are not the deciding factor as to whether a loan is approved. This means Charterbank can provide short term bridging finance to customers who have been let down by other lenders.
Short term bridging loan FAQs
Is it possible to get short term bridging finance without a valuation of the property?
Charterbank carry out detailed in-house desktop appraisals for the property to be used as security and do no not use 3rd party RICS valuers to make lending decisions. This means that decisions to lend can be made extremely quickly. Contact us to find more.
I am buying a property and need urgent finance, how quickly can you provide a short term bridging loan?
When purchasing a property with a bridging loan from Charterbank, the speed of delivering a loan facility can be matched to the time it takes to complete the purchase, even if completion is due to take place imminently. Both residential bridging loans and commercial bridging loans can be completed in as little as 7 days.
I have a bad credit rating, can I still get a short term bridging loan?
Yes. Bridging loans from Charterbank are provided on a non-status basis. This means that the decision making (underwriting) for our bridging loans/development finance is asset based and not calculated using a credit score or income multiples.