Halifax Bridging Loans
Halifax bridging loans are available for personal and business customers alike to use for their bridging loan requirements. At Halifax, they provide a range of bridging finance solutions so that you can get a loan for your new asset. Bridging loans are quite a complex product so in most cases it is more suited than a broker searches the whole of the market to source the best product for you.
Although the bridging loans that Halifax provide are good enough, there are usually better, more suited options for our clients such as using us to help you find and source the best bridging loans that will be most likely better rates than what Halifax charge.
Disadvantages of using Halifax for Bridging Finance
It is important to note that although you may get a good service and packaged bridge loan from Halifax, but in most cases they will only sell you their products. Even if there is a product from another bank such as Nationwide or Santander, Halifax will try and get you to purchase their bridging loan package.
Advantages of a Halifax bridging loan
- You can borrow from as little as £10,000 or as much as £250 million
- Available from mainstream lenders to private investments
- Short to long repayment terms available
- Pay nothing until the end of the term
- You can arrange the exit and bridge loan at the same time
- Can be secured against many assets to get you the amount you require
- Personal and commercial clients both suitable for bridging loans
Should I contact Halifax for my bridging loan?
We would never put you off going to Halifax Bank for your bridging loan, however, what we must advise is that you should definitely think about using a broker. Here at The Bridging Loan Company, we specialise in finance for bridging customers.
This means that all 28 of our advisors are working with bridging day in, day out. If they are not working on bridging finance then they’re most likely on lunch! We search over 200 lenders based in the UK from both mainstream lenders and private investment funds.
How can you help beyond Halifax?
Because we have access to over 200 specialist lenders, we can pass the easiest cases within 24 hours of which you would struggle to get a call back with many banks.
We also deal with the most complex cases that you could imagine possible. If we are unable to source you a lender, then it’s highly unlikely that anyone can.
Use our calculator to compare to Halifax
Our bridging loan calculator will enable you to compare the rates that we can provide against Halifax and other mainstream banks. Simply input your information and it will calculate your interest, monthly payments if you choose monthly options or your final exit sum payable on loan completion.
Many of our bridging loan clients opt to take out a mortgage (if the bridge loan is for property) of which we can help you source the best mortgage rates at the time. We will usually contact you 3 months before your bridging finance is up for completion to arrange an exit strategy.
How do I get a bridging finance loan?
Getting finance in place for your property, land or asset is simple. Firstly you need to fill in your details on our get a quote page. We will then take a look at your information and decide on the best lenders for your circumstances.
We may contact you for more information on submitting your loan enquiry to help us understand your situation.
Once this is done, we will then speak to the most suitable lenders and get you some indicative terms.
The indicative terms show the interest rate and other fees such as legal and valuation fees. Once you are happy with everything, we then submit the case to our underwriting team of which then once accepted we process the loan application.
We gather all of your documents and then submit to the lender for final approval. The last stage is for a solicitor to check over the case, once happy to proceed they will approve the loan and payout to you on an agreed date.
If you choose to go with a Halifax bridging finance loan then the process may be much lengthier as you may be required to source your own legal representative and other things such as valuations.
Can i get a Halifax bridging loan through you?
Yes, certainly. We have access to the whole of the market as we are master brokers. By using us as your broker we can still get access to the best Halifax rates however we will take all of the hard work out of the application for you.
You can take advantage of our in-house legal team that only deals with bridging loans, as well as same-day couriers who will come to you to get documents signed in time-sensitive cases.