What is a bridging loan?
A bridging loan is a short-term loan, which is secured on a property, that is typically used to help a person or an organisation to go ahead with making a property purchase without waiting for a sale to go through. It is called a bridging loan because it is designed to ‘bridge the gap’ in finances. This an option is typically used to buy a property even if you have not yet sold your existing home, for example, if you wanted to downsize without waiting for the sale of their current home.
This type of loan often has a fixed end date, usually to co-inside with when the borrower knows that funds will be able to repay the loan. They can last between 1 day to 12 months for a regulated bridging loan or up to 2 years for an unregulated one.
How does a bridging loan work for home and property owners?
Bridging loans can help you:
- Downsize to a more affordable place
If you are looking to move to a smaller or less expensive home, you could use a bridging loan to secure the smaller property whilst you sell the existing home. - Secure a new home
When there is a delay between the sale and completion dates, a bridging loan can help you to secure a purchase without having to wait for the sale of your existing property to go through. - Repair a broken property chain
A bridging loan can enable you to purchase a new home even if a buyer in the chain drops out. - Buy a property at auction
If you buy a property at an auction, you usually need to pay a 10% deposit immediately. The rest is usually due within 28 days. They’re useful for completing the purchase whilst you arrange a long-term solution, either a through a quick sale or a mortgage. - Build your dream home/grand design
A bridging loan could help you achieve that dream of building your ideal home. - Easy a temporary cash-flow issue
You could use a bridging loan to release equity in your family home. For example, for use in a probate case where inheritance tax needs to be paid on a property, or a divorce settlement.
How do they work for property developers and landlords?
With bridging you can:
- Buy property to develop at auction
Completion is required to happen within 28 days of the hammer going down, so bridging finance can secure the property until it’s either been resold, refurbished or re-financed. This can be for both residential properties and commercial properties. - Buy a property that’s considered uninhabitable
If a property is deemed uninhabitable, it can be hard (if not impossible) to find a lender willing to provide a mortgage. A bridging loan can provide the money needed to fund the building work required to make a property fit to live in, enabling it to qualify for a mainstream mortgage. - Renovate a property before a sale
Property investors find a refurbishment-bridging loan useful if they need to fund expensive repairs and/or property development before putting it back on the market with the aim of selling it for profit. - Ease a temporary cash flow issue
A bridging loan can be used to capitalise on market conditions and discounted investment opportunities.
Vouchers to save at Loan
Looking for promotional codes and vouchers to shop and save at Loan? Check out our website for the latest coupon codes! We update the available list on a daily basis to ensure that you get to save when shopping online. To get the best and latest promotional codes, browse to the top of this page.
We are dedicated to helping our loyal visitors get discounts from as many online shops in the UK as possible. We have listed over 20,000 online shops based in the UK on our website each with a wide range of vouchers and coupon codes. For example, have a look at Dobies Discount Code or Suttons Seeds Discount Code, they have daily new offers and voucher codes.
You will notice that there are vouchers for specific products and there are those for an assortment of products. Each of these vouchers can be used in the UK. We also offer promotional codes from brands and stores in China, Brazil, and Europe. This way, our loyal visitors will save when shopping internationally.
To find voucher codes on our website, we have selected the best voucher codes for Loan and placed them at the top of this page. As a result, we have saved time for our loyal visitors. So, if you are shopping at Loan, use coupon codes from our website. That way, you will save and enjoy your shopping experience.
What is a Loan voucher code?
This is a unique code generated by a computer algorithm designed to offer you discounts on your next order. Also referred to as a promotional code, discount code or promo code, online stores from around the world use the alphanumeric code to offer discounts to their customers.
How can I use Loan discount code?
Our voucher codes can be used in two ways. In method one, click 'SHOW CODE', copy and paste it into your shopping cart. Method two is where you click on 'VIEW OFFER' and you should be directed to the webshop. Here, the discount will be applied immediately.
How to locate voucher codes at 1001vouchercodes.co.uk?
Start by looking for your favourite store using the search function at the top of this page. If you are in search of a specific brand or product, type the name in the search bar. You can use the following function 'CATEGORIES' or 'SHOPs A-Z.'
You can also copy the voucher from Loan by clicking at 'VIEW OFFER' or 'SHOW OFFER.'
If the voucher code is not showing, copy it by clicking 'COPY'. If the modal is not showing, click on the big blue button with the label 'VISIT Loan.'
At Loan, you can select one or more products and add them to your shopping cart. Once you are done shopping, take a close look at the shopping cart for the space made available for your promo code. Before checkout, enter the discount code in the space provided and it should be applied automatically.
Check to ensure the voucher code is added correctly. If the voucher is not valid, then it has expired. In addition, the voucher may be valid for another product. In such a case, get another voucher code that applies for that product. Don't forget to read the terms of the discount code.
If you are successful in applying the code, share our website, voucher codes, promotional codes and offers with family and friends so that they can save too.
FAQ
Are there any discount codes available for Loan?
At the moment there are codes available and 6 offers at Loan.
How much benefit can I get from Loan?
In the past 30 days, 17 visitors saved an average of at Loan. There are sometimes also free shipping promotions active.
How can I redeem a Loan discount code?
To use a Loan coupon, copy the code with the mouse and paste the code into the appropriate field during check out. Please note that discount coupons sometimes do not work with all orders. Sometimes you can also redeem the coupon at the physical store.
How many offers does Loan have on average?
There are codes available today and 6 offers at Loan. On average, Loan 6 has coupons and/or promotions online
Are the discounts valid for everything on Loan?
You can save money at Loan by using one of the current Loan coupons from 1001vouchercodes.co.uk. At the moment you can save a maximum of .
Until when are the discounts valid on Loan?
Each promotion code of Loan has an expiration date, the code can only be redeemed before this date. Some Loan offers do not have an expiration date, then the promo code is valid until Loan runs out of stock of this item.
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