Lending decisions are based on lending criteria and, where applicable, subject to credit check and an assessment of individual circumstances.
*Subject to application, status and lending criteria. You may be offered a higher rate.
What’s the process?
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A residential bridge is a short term loan used to fund a residential property which you won’t be living in, such as a rented home that you’ve bought as an investment property.
The short term loan is typically taken out over a 12 month period, although this can vary depending on your needs. Money from the residential bridge loan can be used for buying and/or doing up your new property. Depending on your repayment type, you may not be required to make monthly payments during the term of the loan. We can look to deduct the monthly payments you are due to make from the loan in advance.
If you are due to repay your loan at the end, you’ll need to plan for how to pay off the lump sum at the end of the agreed period. This is known as an ‘exit strategy’ and can involve arranging longer term buy-to-let finance or selling the property for a profit.
From filling out the application to seeing the money land in your bank, the process typically takes 3-4 weeks. However this will depend on your circumstances and the type of valuation needed, meaning it could take longer than this.
Do you want to understand the potential cost of your mortgage or loan?
We can give you an idea of the monthly costs with just a few details like the property value, your deposit amount and how long you need the loan to last.
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When it comes to getting a bridging loan, it’s all about speed, service and simplicity.
At Together, our dedicated team will make sure you get access to the funds you need quickly and easily – in as little as 24 hours.
But, don’t just take our word for it! Our bridging products have been recognised by customers and industry professionals alike, making us a multi-award winning bridging finance provider you can rely on.
All mortgages are subject to our terms and conditions.
Loans offered by Together Commercial Finance Limited are not regulated by the Financial Conduct Authority.
