Award-Winning Bad Credit Specialist · FCA No. 301173
Bridging Loan With Bad Credit UK Short Term Finance Solutions
A bridging loan can solve urgent property finance needs even with bad credit. Darryl Dhoffer explains when bridging finance is the right solution and who offers it to adverse credit borrowers.
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Award-Winning
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FCA No. 301173
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Bridging Loans and Bad Credit — What You Need to Know
A bridging loan is short term finance typically 1-24 months secured against property. It bridges the gap between needing money now and a longer term solution becoming available. Common uses include buying a property before selling another preventing a chain break funding a property purchase at auction or refurbishing a property before refinancing onto a mortgage.
Bridging lenders are generally more flexible on adverse credit than mortgage lenders because the loan is short term and secured against tangible property. However rates are significantly higher than mortgages reflecting the short term nature and higher risk.
Darryl Dhoffer — The Mortgage Geezer
20+ years in mortgages. Award-winning specialist. Featured in the Daily Express, FT Adviser and The Intermediary. I have helped hundreds of people across the UK who were told no by their bank — and I work with 90+ lenders including specialist adverse credit lenders you will not find on comparison sites.
When you contact me, you speak to me directly. No call centres. No being passed around. I personally review every case and respond within 2 hours.
CeMAPCeRERFCA 301173AWARD WINNINGINDEPENDENTWHOLE OF MARKET
Frequently Asked Questions
Can I get a bridging loan with bad credit? ›
Yes. Bridging lenders focus primarily on the value of the security property and the exit strategy rather than credit history. Many specialist bridging lenders accept applicants with CCJs defaults IVAs and other adverse credit. The key questions are what property are you securing the loan against and what is your exit strategy to repay it.
What is an exit strategy for a bridging loan? ›
An exit strategy is how you will repay the bridging loan at the end of the term. Common exit strategies include selling the property remortgaging onto a standard mortgage once refurbishment is complete selling another property or receiving an inheritance. Lenders must be satisfied the exit strategy is credible before approving a bridging loan.
How much does a bridging loan cost with bad credit? ›
Bridging loan rates are significantly higher than mortgages typically 0.5-1.5% per month rather than per year. With bad credit you will be at the higher end of this range. Total costs including arrangement fees legal fees and exit fees can add up significantly. Darryl will provide a full cost illustration before recommending bridging finance.
How quickly can I get a bridging loan with bad credit? ›
Bridging loans can be arranged much faster than mortgages sometimes within days in straightforward cases. The speed depends on the complexity of the case the property valuation and how quickly you can provide the required documentation. Darryl has access to specialist bridging lenders who move quickly.
Is a bridging loan a good idea with bad credit? ›
It depends entirely on your specific situation. Bridging finance is expensive but can be the right solution when speed is essential or when a property opportunity would otherwise be lost. Darryl will always compare bridging finance against other available options and recommend bridging only when it is genuinely the best solution for your circumstances.
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01234 237321
darryl@themortgagegeezer.co.uk
FCA No. 301173
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The Mortgage Geezer is a trading style of Access Financial Services Limited, authorised and regulated by the FCA No. 301173. Your home may be repossessed if you do not keep up repayments on a mortgage.
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