Our expert team here at Pinnacle act as an independent broker, providing tailored and transparent advice to clients throughout the UK. Our ethos is quite straightforward – delivering excellence and providing the very best are for our clients. This is something that we are proud of, and what sets us apart from our competitors.
Pinnacle’s bridging finance specialists are dedicated to helping you to make that purchase, where other types of conventional finance may falter. We understand the importance of speed, and competitive options, which is why we combine the two to provide you with excellent bridging finance options to choose from.
Bridging finance is a essentially short-term funding option used to 'bridge' a gap between a debt coming due and the main line of credit becoming available. It can also be used to fund a new purchase as a means of short-term credit, typically up to a term of 1 year, and is relevant when a conventional form of lending is unavailable / unsuitable.
In order to qualify for a bridging loan there needs to be a valid reason for the finance. This can cover a range of areas, which our advisors will help you with. There are lenders who will be comfortable with poor credit profiles and low income situations, whilst the most suitable lender and deal will be determined by the overall lending proposal.
The amount that can be borrowed will be dependent on the plans for the funds and the value of the security that the loan is being guaranteed against. Our brokers will be able to tell you swiftly how much you could borrow as a maximum, and what terms of expect such as length of finance and the rate / fees applicable.
To apply simply get in touch with one of the team, who will talk you through the options and take further details from you as to your plans. Click on our ‘contact us’ page for details on how to get in touch with us.
Bridging loans in their very nature are a short-term finance measure, with terms generally ranging from 6 to 12 months. If the loan is required beyond a 12 month period then we will discuss with you what exit strategies are in place to have finance in place beyond the 12 month period.
Bridging loans are not necessarily cheap compared to the setup costs of a conventional mortgage, however this is dependent on your circumstances, preferences, and the deal selected. You can elect in most cases to have fees added to the loan, which is something your broker will explain in detail, and show you all scenarios available.