A bridging loan, also known as a ‘fast loan’, is a sum lent on a short-term basis to quickly fund a property purchase. This makes them perfect for securing a new home before selling your current one, for example when buying a property at auction.

The clue’s in the name: bridging loans act as a financial bridge between projects. You’d typically take one out when you expect to pay it off over a short period of time, as the interest rates on bridging loans tend to be higher than many other types of loan.

In principle, there are 2 kinds of bridging loan: closed loans, which have a fixed repayment date; and open loans which have no fixed date but are still required to be paid off as quickly as possible. We can advise you on the best bridging loan to take out to meet your needs.

Whichever type of bridging loan you go with, the lender will want to see a clear repayment plan. As you might expect, your repayment strategy will need to be more detailed with a closed loan, as there is a defined structure for your repayments to fit into.

An open loan affords more flexibility but the lender will still want to know where you will source the repayments from. Hawke can offer you expert advice on formulating a strategy to make your loan repayments work for you.

Our team is comprised of experts with a wealth of industry experience. We partner with you to make our comprehensive knowledge yours, with financial advice that will get you where you’re going.

Because bridging loans are a fast solution, you’ll need an advisor that can work under pressure and deliver excellent results quickly. We commit to auction timescales in providing you with the fast loan you need. Additionally, other reasons to choose us are:

1. We work with a wide variety of lenders to ensure your unique needs will be covered
2. We answer within 24 hours of acceptance
3. We don’t charge broker fees
4. You will be assigned a sole financial advisor throughout the process to manage your case personally and efficiently

We understand the time sensitivity of getting your bridging loan application over the line. Our experienced team is at your disposal, with a personal financial advisor assigned to your case to ensure fast, efficient and easy results.

Contact us today to find out more about bridging loans and how we can help you. For more information on Hawke Financial Services Llp, see our about us page or browse our client case studies and reviews to get a feel for how we work.