Significant Increase in Bridging Loan Applicants Owing to Lowest Ever Interest Rates

With the UK’s interest rate still at an all time low, Britain’s borrowers are keener than ever on alternative finance solutions which are currently at the most affordable rates they have been.  According to a recent report by the Association of Short-Term Lenders, the bridging loan sector has witnessed a 500% spike in increased activity over the last four years alone.  The team at UK Property Finance, claim that this boost in interest and application numbers is owed to a combination of the sharp drop in Bank of England’s interest rate and the unrivalled speed and flexibility that bridging finance offers its borrowers.

Unique Advantages of Alternative Finance
“Here at UK Property Finance, we are always committed to providing the best possible products at the lowest achievable rates.  Our unrivalled commitment to client satisfaction, and our ability to deliver the most cost effective borrowing products with the most flexible terms, has ensured our place as one of the leading providers of alternative financing products for residential borrowers and commercial property developers across the UK.  Developers and residential borrowers using our services have come to depend on our unrivalled speed and unbeatably low borrowing costs.” - UK Property Finance

One of the most interesting facts about the increased activity and interest in the bridging loan sector is the amplified interest from consumer borrowers.  Typically, this unique type of finance is sought by property investors and commercial developers.  However, there has recently been a significant increase in the number of bridging loans that are now being applied for by residential homeowners in search of a quicker and more affordable type of finance. 

Buy-to-Let landlords are also in much greater demand of low costing, bridging finance products, particularly at a time when house prices have dropped considerably in certain parts of the UK.  The increased availability, quicker access times and lower interest costs associated with bridging loans is now enabling potential buy-to-let borrowers across the country to take advantage of exciting property purchasing opportunities  before they fall by the way side.

Low Cost Borrowing for Any Reason
“When borrowing over a 12-month period, most applicants will be able to access loans with interest rates starting as low as 0.58%.   Of course, we are able to negotiate bridging funds for shorter or longer periods, depending on the borrower’s circumstances.  Although bridging loans are typically used for property buying or refurbishment purposes, funds secured against a borrower’s property can generally be used for any purpose at all - as long as the lender agrees.” - UK Property Finance

Bridging loans are an exceptionally fast form of finance, which can be paid out in a matter of days as opposed to weeks or months.  This added speed is often pivotal in terms of securing a new property purchase - particularly when the borrower is looking to buy auction property.  In these situations, many borrowers will apply for bridging finance to pay for the property outright within the allotted timeframe whilst arranging some type of long-term financing product in the background.  Once the long-term finance is secured, the bridging loan is repaid along with any interest and additional borrowing fees.

The team at Bridgingloans.co.uk are currently urging all borrowers to consider all possible options before committing to take out any financing product that might not prove to be in their best interests.  With their low rates of interest and high LTV borrowing options, UK Property Finance is able to source the most cost effective borrowing solutions across the entire UK loan market, with a streamlined application system offering fast approval and quick payouts.

Contact Information

Gary Latham

Managing Director

UK Property Finance Ltd

(44) 1164027982

info@bridgingloans.co.uk