bridging loans services from ILJ
ILJ Services

Bridging Loans

Do you need a Bridging Loan?

ILJ is your premier destination for flexible and reliable bridging loan solutions. Whether you’re a property investor, developer, or homeowner seeking quick and efficient financial assistance, we specialise in providing bridge financing options to suit your unique needs. We  strive to bridge the gap between your current financial requirements and your long-term goals. Trust ILJ Bridging Loans to provide swift, transparent, and competitive lending solutions, empowering you to grab opportunities and navigate transitions with confidence.

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FAQ

Frequently Asked Question about Bridging Loans

What is a Bridging Loan?

How a Bridging Loan Works?

You can get the necessary funds for your purchase through a bridging loan, typically with terms crossing 6, 12, 18, or 24 months. Given the adaptable nature of this loan option, lenders typically apply higher interest rates compared to traditional mortgages. Consequently, borrowers should carefully assess their ability to repay the bridging loan promptly. Repayment strategies might involve refinancing or re-mortgaging the property, selling the property to clear the loan, or utilising funds from other sources to settle the debt. As the loan is secured against the new property, failure to repay could result in the lender repossessing the property.

What would be the best Bridge loan for me? 

What can I use a Bridging Loan for?

Bridging loans are commonly used by individuals seeking to purchase a new property prior to selling their existing one. They are utilised by landlords, homeowners, and property investors to assist in various activities such as property acquisition, development projects, investing in buy-to-let ventures, managing tax obligations, or enhancing cash flow, acquiring commercial real estate, purchasing land, facilitating fast auction transactions, undertaking light or heavy refurbishments, and addressing a countless number of other financial needs.

How much can I borrow with a Bridging Loan?

Bridging loan amounts range from £5,000 to £25 million or beyond, with the specific borrowing limit determined by your existing financial situation and credit record. 

Can I get a bridging loan with bad credit?

Some companies may entertain the possibility of lending to individuals with “poor credit” history, although such applicants are typically viewed as higher risk, resulting in potentially higher loan costs. It is advisable to review your credit report prior to submitting your loan application to estimate your current credit status. If you find yourself in the state of bad credit, there are actionable steps you can take to enhance your credit score.

Types of Bridging Loan

rapid bridging loans for short and long term

Submit Your Application And Receive A Decision Within Just 2 Hours

No more waiting anxiously for days on end; we understand the urgency of your needs and try to provide prompt responses, ensuring you can move forward with confidence and clarity. With our instant decision-making, you can take the next steps towards securing your bridging loan with ease and peace of mind. 

We have partnered with an experienced team of specialist brokers  to bring you FREE advice when securing your bridging loan. 

We may refer you to recommended providers of ancillary services such as financial services, solicitor, and insurance. We provide referrals to trustable credit broker, lender, or legal adviser. We may receive commissions that will vary depending on the lender, product, or other permissible factors. You are not under any obligation to use the services of the recommended provider, which may also be an associated company of ILJ.

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