Bridging Finance Solution

Our property solicitors act for borrowers of short-term financial loans. We can process the application, ensuring your bridging loan has the best chance of success. We know that tight time frames are often at play, so we promise to act quickly and efficiently.

For a free, no-obligation enquiry, call us on 0191 567 7244 , and we’ll gladly help. You can also email info@cooklaw.co.uk or complete our free online enquiry form, and we will contact you shortly.

What is a bridging loan?

A bridging loan is a short-term secured loan typically used to ‘bridge the gap’ in your finances. You use the loan to cover the cost of a payment that cannot be deferred while waiting for other funds to become available.

Bridging loans often have a short repayment term. This could be anything from six months to 24 months, with the exact conditions stipulated in the financial agreement. Bridging loans are more expensive than other types of secured loans, but the trade-off is the speed at which they can be arranged. The approval process is much faster than other forms of long-term finance. If successful, you can access funds shortly after the application is submitted.

As a type of secured loan, you do have to provide some form of security.

This is usually a property or other asset.

Why might you need a bridging loan?

Bridging loans are regularly used in the property sector by landlords, developers, and homeowners. There are many scenarios where you need to pay for a particular cost, but your money is tied up in an asset that has yet to become liquid.

This might happen if:

• You buy a property at auction
• You want to expand your portfolio
• Your buyer has withdrawn, but you don’t want the chain to break down
• You want to complete refurbishments or renovations before selling a property
• You want to purchase a property before selling a property you currently own
• You want to buy a property not suitable for a conventional mortgage
• You want to secure a property purchase but have not yet got a mortgage approved in principle

How can our fixed-fee solicitors help?

Our experienced property solicitors can help you with your bridging loan, both for residential and commercial property. We can advise you in the early stages to ensure the loan’s successful and quick completion.

Bridging loans are not suitable for everyone and can carry risks. We will explain the implications and provide independent legal advice geared towards protecting your best interests.​

If you decide to apply for a bridging loan, we will manage the legal aspect for you, ensuring that your property transaction remains on course.

We understand that if you need a bridging loan, you’ll want a solicitor who can act quickly and efficiently. That’s exactly what we’ll do. We are highly experienced in managing bridging finance for borrowers, making us best placed to help you. We know the process of securing a bridging loan inside out. With our support, you can access much-needed funds without delay.

The legal work involved in a bridging loan can also vary, as some bridging lenders use their own solicitors to act for them while we continue to act for you. We understand this and can assist from an early stage to get “your ducks in a row” prior to receipt of the paperwork. We will make the process as stress-free as possible.

Fixed fee bridging finance solicitors

Our conveyancing solicitors act on a fixed fee basis. We will provide a fixed fee quote with no hidden charges following an initial consultation. That way, you can keep an eye on your budget and be confident that there will be no extra expenses further down the line.

For a free, no-obligation enquiry, call us on 0191 567 7244, and we’ll be happy to help. You can also email info@cooklaw.co.uk or complete our free online enquiry form, and we will contact you shortly.