Development Bridging Loans

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Welcome to Fast Forward Finance

At Fast Forward Finance, we have extensive experience in designing tailor-made bridging funding for clients seeking to develop properties in the UK. Our role as an independent bridging loan broker means that we can speak to a wide range of lenders on your behalf to get a loan deal that is uniquely suited to you and your specific needs.

We strive to be highly qualified in the field of property finance brokering and to have extensive knowledge of tailored loans targeted at land developers in the UK. If you need ready cash to start or complete a property development project, get in touch, we may just have the right loan deal for you.

A Trusted Capital Source for over Xnumber of Businesses

Fast Forward Finance has been a reliable source of funding for hundreds of property development companies in the UK, helping them access temporary loans that helped their firms meet their expenses while exploring long-term funding from investors of mortgage providers.

A Proven Track Record in Providing Bridging Loans

We aim to be a bridging loan company with a fantastic track record of meeting the financing needs of our innumerable clients. We support developers and enterprises by arranging suitable development bridging loans for a variety of business purposes.

With more than XXX years of industry experience, we know what is needed to help land owners, property developers, home buyers, self-build enthusiasts and deal hunters get the funding they need when they need it most.

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Our Bridging Finance Specialist Team

Our team of professional development finance brokers has access to both the most affordable and versatile bridging financing loans. If you need cash to handle any building project, get in touch with us, we may just have the bridging loan product you need to get your project to the next level.

What is a Development Bridging Loan?

A development bridging loan is a form of funding that is usually used as a fast borrowing option to purchase a property or complete property development until other sources of funding can be accessed.

This could be the sale of an owned property, or a loan from mortgage providers, or equity investors. Acquiring a bridging loan for property development means you can afford to turn the property into a profitable source of income so that you can eventually repay the loan when it is due.

What is a Development Bridging Loan Secured Against?

Bridging loans can be guaranteed against any residential property, as well as commercial properties and properties with both a commercial and residential aspect like HMO’s, hospitals, hotels and buy-to-lets.

There are lenders who may even be willing to consider lands and undeveloped properties as security for the loan amount.

Can you get an Unsecured Development Bridging Loan?

While it is true that an unsecured loan is usually difficult to get, at Fast Forward Finance, we may be able to provide unsecured development bridging loans for you as long as you can provide adequate security, a viable repayment plan and meet any other condition the lender stipulates.

Borrow up to £XXX with Fast Flexible Development Bridging Loans

Working with us at Fast Forward Finance, you may be able to clinch a development bridging loan for your project of amounts up to £xxx subject to your security, exit plan, and other lender factors. Pay terms can be tailored to suit you, and the sums and deadlines for repayment may also be adjustable.

Development Bridging Loans for your Development Finance Needs

If you need fast funding for a property-related project, whether it’s for property development, buying to rent or personal use, a bridging loan could be the right choice for you. Development loans such as bridging financing can also be used for other business uses in the short term, as long as you have a certain repayment plan.

Bridging Loans are one of the main funding choices for purchasing and building assets. You may use it to secure short-term funding that can then be used to buy land at auction, or to finance a quick construction project. A bridging loan can also be used to conclude the purchase of a property while the finalisation of another transaction is still pending. Whatever your project plans are, let us point you in the right direction concerning your financing needs.

Why use Development Bridging Finance?

  • To raise finance quickly for property development purposes
  • To raise a deposit needed to buy property.
  • To finance property renovation or home improvement
  • To complete a property development.
  • To buy property at auction.
  • To pay for a property that would not secure a normal mortgage in its existing condition.
  • To handle the shortage of cash for buying a property when a pending property sale is delayed.

Who are Development Bridging Loans for?

Development bridging loans are generally meant for landlords, property owners, and development companies. They can also be used by people to purchase at auction where a payment is required within a few days.

When Should you use a Development Bridging Loan?

Bridging finance can only be used as a means of acquiring short-term funding. It’s important to remember that a bridging loan cannot be used for bigger construction projects. It should only be used for projects that can be completed and repaid within the timeline provided by the bridging lender who is providing the loan. Going over time could lead to extra charges.

By comparing multiple lenders, we may be able to help you get the best possible rates for bridging loans. If you need advice and suggestions on how to better meet your unique needs, contact the Fast Forward Finance team today to chat about your choices.

How Development Bridging Loans can Help Your Business

Development bridging loans do not only extend to building projects. Development bridging loans can support both building projects and regular business financing needs.

Bridging development loan can support your business when:

  • You want to develop properties for sale, rent, or use
  • You want to go into property investment
  • You want to start other development related projects

Development bridging loans can be the ideal solution for those in need of property development financing in the UK. How to get the Right Development Bridging Loan for your Business

It is important that you do your homework to find the development bridging loan that suits you because there are a lot of options out there. Bridging loan rates can vary depending on the lender so you’ll need to find a broker that can link you to a lender that exactly matches your specific property development requirements. Make sure to weigh up all your options before taking the final decision and check with a broker such as Fast Forward Finance to help you identify the right bridging loan contract.

What’s the Typical Interest Rate for a Development Bridging Loan?

Bridging loan interest rates are charged on a ‘monthly’ basis, rather than an ‘annual’ basis as is common with other loans. Development bridging loans interest rates usually vary from 0.75% to 1.45% for residential properties and from 1% to 1.95% for commercial developments.

Development Bridging Loan Calculator

Our free development bridging loan calculator provides a quick and accurate way to find the best deals on interest rates and fees for development bridging loans. Using our easy-to-use calculator, you can get a pretty good idea of what a development bridging loan will cost you should you decide to go ahead with one.

What Kind of Fees are Involved in a Development Bridging Loan?

Every bridging loan attracts a set of fees. Typically, you should expect to pay an arrangement charge, a broker’s fee, legal charges, and a valuation fee for the property appraisal, all of which the borrower will be responsible for. Some lenders also charge an exit or early repayment fee, however, the lenders we work with do not. And if such a fee will be part of the deal, you will be informed before the contract is signed.

What are the Term Lengths for a Development Bridging Loan?

Development bridging loans are generally available for up to one to 12 months, or up to a period of 36 months depending on the project.

What are the Eligibility Criteria for a Development Bridging Loan?

The development bridging loan qualifying requirements are much more relaxed and flexible than those for other forms of financing. Bridging lenders are happy to lend to first-time developers as long as there is adequate security and a viable repayment plan.

While every lenders’ criteria are different, some of the common requirements are that the borrower be resident in the UK, have enough equity in the property to be used as security, can show a good history of handling development projects and a good credit history.

Where the lender requires proof of income, you will have to prove this to your bridging loan lender to show that you can handle the repayment.

What Type of Security can I use when Applying for Development Bridging Finance?

Development bridging loans may be secured using any appropriate residential or commercial properties or other assets such as land. That said, it may be possible to find lenders willing to accept other forms of security such as stocks, bonds, and jewellery.

The Benefits of Development Bridging Finance

One of the major benefits of development bridging finance is the speed with which the process can be completed. In fact, once all the requirements are met, funds can be released in just a few hours. Also, this form of loan gives people a real chance to get the cash they need to either get on the property ladder or complete a pending property development project in a timely fashion.

Once the necessary finance is in place, you can invest in property buy land, or transform an already existing property into an income-generating business. Another benefit of a development bridging loan is that it has a wide range of applications. It can be used for funding auction finance, first and second mortgages, home renovation and refurbishment, new build development and construction as well as debt consolidation. Many bridging loan providers also offer an option to take out a development bridging loan as a second-charge loan as long as there is adequate equity in the property to be used as security.

What can you use a Development Bridging Loan for?

A development bridging loan can come in handy when there is an opportunity to invest in a building project. Project bridging funding can even be used to revive a buy-to-let purchase before it is issued as a rental property. Ideal for a number of situations, development bridging loans can be used for both residential and commercial purposes. For example, it can be used to fund property development from the ground up, or simply to buy a house for reselling.

Once the property has been sold or other sources of funding obtained successfully, the proceeds can then be used to repay the loan. As you can see, there are just so many applications for a development bridging loan.

Why Choose Fast Forward Finance for a Development Bridging Loan?

Unsecured Loans Available

While it is true that getting unsecured loans can be difficult, we have excellent relationships here at Fast Forward Finance with banks, lenders and wealth managers. That means we can use our lenders network on your behalf to find the best short-term funding opportunities for your construction project, including unsecured loans.

No Early Repayment Fees

Development bridging loans from our partner lenders are flexible and can be tailored around your needs with no early repayment payments.

Flexible or Fixed-term Payments

We also have access to a wide network of lenders who usually offer flexible bridging loan terms. This means that whether you want a flexible system of repayment or a fixed system, we may be able to meet your requirements. Our team of expert brokers are tasked to search for and provide the best rates and deals for development bridging loans in the UK.

Fast Funding

Our expert brokers understand that a fast turnaround can be vital whether you’re in the midst of purchasing a property or need capital to be released quickly for any reason. By working closely with our lenders network, we aim to help you to secure the bridging finance solutions needed easily and at the best possible rates.

Fair Decisions

We agree that obtaining finance should be hassle-free irrespective of the situation, which is why we only partner with lenders who are fair and rational in their decision-making process and can tell you directly about their decision in 2 working days so that you can concentrate on what’s relevant to your business.

We’re Easy to Work With

At Fast Forward Finance, we strive to be not just easy to work with, but also to provide assistance and guidance during your loan process that will make everything proceed seamlessly and without hassles. You can count on us to put your needs and vision for your future first in everything.

Stellar Customer Service

In order to deliver the finest level of service, our devoted and knowledgeable staff partners with expert lenders, evaluators and solicitors to ensure that our bridging finance relationship, support and customer satisfaction are the best available. When it comes to provision of stellar customer service, look no further than Fast Forward Finance.

Transparency Every Step of the Way

We strive to be committed to providing our customers with excellent service and complete transparency. From the very beginning, you will know all there is to know about the terms of your loan so that there are no unpleasant surprises in the future.

Following the FCA Rules

At Fast Forward Finance, our brokerage service is professionally qualified to offer bridging loan advice and only deal with businesses that are approved and supervised by the Financial Conduct Authority. This means you can trust that our services are all legal and above-board.

Dedicated Account Executives

At Fast Forward Finance, we believe in making our customer’s experience with us as hassle-free as possible. This is why we have a dedicated account executive for every customer. This individual will be available at all times to answer your questions, provide expert guidance, and generally make sure that you have a pleasant experience with us.

Some of the Sectors we lend to:

  • Retail businesses
  • Bars & restaurants
  • Hotels and B&Bs
  • Hair & beauty salons
  • Dentists & opticians
  • Vets
  • Auto garages & MOT centres

How does the Application Process for a Development Bridging Loan work?

Our mission is to be able to offer expert bridging solutions without misunderstanding, and to make sure that the process you are going to go through while applying for bridging financing has been streamlined. If you feel that a development bridging loan is right for you, here is how our application process works:

Step 1: Get in touch with us for an initial consultation. We will talk about your individual requirements, personal circumstances and explore all the options available to you.

Step 2: We will look throughout the bridging loans industry for a suitable lender. Once we find a lender willing to consider your loan application, we will send you an email with a quote.

Step 3: If you decide to go forward with the bridging loan application, the next step will be to carry out a valuation of the property to be used as security. This will typically be done by an RCIS evaluator. The value of your property will greatly influence how much you can borrow.

Step 4: Once the value of the property has been determined, the lender’s lawyers will draw up the relevant paperwork, which will also contain the terms and rates of the loan.

Step 5: Once all the relevant requirements have been met and your loan approved, funds will be released as soon as possible.

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How to Apply Online for one of our Development Bridging Loans

Applying for a development loan with Fast Forward Finance is simple. Simply fill in your details in the online application form and hit submit. Someone will get in touch with you to discuss your needs further.

Simple Qualifications

Qualifying for a development bridging loan is simple. Because the loan is backed by a property security, the requirements are less rigorous than with other forms of finance. However, the applicant will have to be a UK resident, have a provable income and be able to show a clear exit strategy.

Easy Application Requirements

Lenders typically don’t require much to consider your loan application. Typically, the loan requirements include:

  • Valid identification
  • A valuation report on the property to be used as security
  • A plan for repayment
  • A business plan
  • Proof of experience in property development

Super-fast Approvals

You get a no-nonsense attitude with our partner lenders which means less paperwork, less checks, and quick turnaround on decisions. You can know whether or not you qualify for a bridging loan quickly so that you can get the ball rolling.

Want to Check your Eligibility Before you Apply for a Development Bridging Loan?

Are you wondering whether or not you are eligible to apply for a development bridging loan? No worries. Use our eligibility check to find out if you can apply for one. You can also get in touch to speak to someone in person.

Still have questions?

Want to check your eligibility before you apply for a Development Bridging Loan?