Table of Contents
- 1 Welcome to Fast Forward Finance
- 1.1 A Trusted Capital Source for Over Xnumber of Businesses
- 1.2 A Proven Track Record in providing Bridging Loans
- 1.3 Our Bridging Finance Specialist Team
- 1.4 Competitive Bridging Loan Rates
- 1.5 What are the Bridging Loan Rates?
- 1.6 Bridging Interest Rates Explained
- 1.7 What does APR mean?
- 1.8 Common Loan Fees
- 1.9 What’s the Typical Interest Rate for Bridging Loans?
- 1.9.1 Commercial Bridging Loan Rates
- 1.9.2 Short-Term Bridging Loan Rates
- 1.9.3 Cash-flow Bridging Loan Rates
- 1.9.4 Tax Bridging Loan Rates
- 1.9.5 VAT Bridging Loan Rates
- 1.9.6 Equipment Bridging Loan Rates
- 1.9.7 Property Bridging Loan Rates
- 1.9.8 Development Bridging Loan Rates
- 1.9.9 Auctions Bridging Loan Rates
- 1.10 Bridging Loan Rates of up to £50,000
- 1.11 Bridging Loan Rates of up to £100,000
- 1.12 Large Bridging Loan Rates
- 1.13 Unsecured Bridging Loan Rates
- 1.14 No-credit-check Bridging Loan Rates
- 1.15 Related Links
- 2 Bridging Loan Rates Calculator
- 3 Some of the Sectors we lend to:
- 4 How does the application process for a Bridging Loan work?
- 5 Why Choose Fast Forward Finance for a Bridging Loan?
- 6 How to apply online for one of our Bridging Loans
- 7 Want to Check your Eligibility Before you Apply for one of our Bridging Loans?
Welcome to Fast Forward Finance
Established in YEARXXX, Fast Forward Finance is an independent bridging loan broker that specialises in helping businesses get access to the funding they need to meet their business needs.
Fast Forward Finance has close relationships with specialised bridging lenders on the UK bridging loan market, including private banks that may not be present on the high street.
We arrange flexible bridge loan solutions for our clients and offer personalised advisory services that are offered in-person or remotely when needed.
A Trusted Capital Source for Over Xnumber of Businesses
Our team has helped many companies obtain short-term financing for various applications. You can secure bridging loans for property and, in some cases, business assets.
Our team of specialists endeavour to offer reliable advice based on the specific circumstances of each client. We also work with some specialised lenders who can help companies with CCJ defaults, bad accounts and ongoing insolvency proceedings.
A Proven Track Record in providing Bridging Loans
Fast Forward Finance has documented experience in bridging financing for UK residents who have often been in their greatest financial difficulties.
Our team will endeavour to not only assess and advise your company but also propose the most appropriate bridging financing system to fill payment gaps.
Our Bridging Finance Specialist Team
We have a team of specialists who specialise in bridging loans and understand the financing and development of property from the inside out. Customers find this extremely reassuring because they know that they can rely on us and our common-sense approach to bridging finance.
Competitive Bridging Loan Rates
As a reputable broker, we guarantee that our clients will receive the most competitive interest rates on their bridging funds.
Based on our experience and knowledge of bridging financing, we also strive to ensure that the funding we provide best meets the needs and preferences of customers, and most importantly, is delivered within the required time frame.
What are the Bridging Loan Rates?
The interest rate on a bridging loan is one of various costs associated with taking out a bridging loan.
The first and most important is the bridging loan rate, which is usually expressed as a monthly rate.
This rate usually seems high compared to other financing options, which is why bridging financing should only be used as a short-term financing option.
In addition to interest, you must consider a contract or arrangement fee, which is usually between 1% and 2% of the agreed loan amount. The arrangement fee is not based on the loan period. It doesn’t matter if the interest rate on the loan is between 3% and 6% or more, the arrangement fee paid is exactly the same, so there is no benefit to getting a short-term loan instead. You only pay interest on the entire outstanding loan.
Bridging loan rates may be variable or fixed.
A fixed bridging loan means that the same interest rate applies until the payment is completed.
On the other hand, bridging with a variable interest rate means that the interest rate can change over time. It may increase or decrease. Facility fees and interest rates vary from case to case, depending on the loan amount, the period of the loan and the perceived risk to the lender as it is assessed.
Bridging Interest Rates Explained
Interest is the amount of money to be paid on top of the total loan amount. Interest rates for bridging loans differ from those for other types of financing. Interest is usually accumulated, which means that you do not pay them every month. They are charged on a loan based on the loan period.
After payment, the loan is calculated based on the number of days the loan remains not repaid. This is called the daily rate. This interest will accrue. Interest payments are usually withheld or deducted in advance or repaid with the loan at maturity or earlier if the exit strategy activates earlier.
What does APR mean?
APR stands for Annual Percentage Rate. Annual interest is important because it can give you a good idea of how much you pay to get a bridging loan.
Common Loan Fees
Interest – Interest rates vary from company to company, but typically start at 0.6% per month and can increase to 1.5% per month.
Arrangement fee – Most lenders charge an administration fee of 1% to 2% to arrange a loan. This fee can be paid in advance or added to the loan.
Valuation fee – The lender usually insists on having an evaluation survey conducted by an assessor approved by RICS. Costs vary but are usually between £500 and £1000 and the borrower pays the valuation or survey fee.
Legal fees – The borrower is usually also responsible for the legal fees of the lender. Costs vary and are usually related to the value of the property. The borrower is also responsible for his own attorney fees.
Broker fees – If you have used an intermediary like us, the lender may add an additional brokerage fee. Although in most cases the broker is paid from the arrangement fee by the lender.
Exit fee – some bridge lenders charge a so-called exit fee, which is the contract termination fee. The exit fees are around 1%, which means that with a £500,000 loan you can expect to pay another £5,000.
Although we always try to work with lenders that do not charge exit fees, some lenders add extra fees, based on the uniqueness of your loan situation.
What’s the Typical Interest Rate for Bridging Loans?
Interest on bridging loans usually starts at around 0.55%, depending on the level of risk. Of course, we will discuss the interest rate you should expect to pay with you in more detail, but in most cases, this will depend on your unique requirements.
Commercial Bridging Loan Rates
Commercial property poses a greater risk to lenders than residential property, which is why loans secured on commercial property are usually more expensive than on residential property.
Rates typically start from 0.65% per month.
Short-Term Bridging Loan Rates
Interest rates for short-term bridging loans can vary considerably depending on the application.
Rates from 0.75% per month to 2% per month are examples of a range to consider.
The actual interest rate that the lender can offer you depends on your individual circumstances and status.
Cash-flow Bridging Loan Rates
The typical annual interest rate for the first top-up is 28.9%.
Interest rates on short-term loans are usually higher, but the faster you can pay back the loan the more likely it is that you can be saved from a potentially costly problem.
Tax Bridging Loan Rates
Financing problems due to inheritance and property matters, such as paying taxes or settling other beneficiaries, can first be solved with bridge financing.
Monthly interest rates are from 0.43%.
VAT Bridging Loan Rates
The interest rates on VAT bridging loans vary among lenders but are usually between 1.25% and 1.5% per month.
Equipment Bridging Loan Rates
Asset-based bridge lenders use a number of asset types as collateral, including company accounts receivables, company or personal assets, inventory, or company equipment and machinery. Rates start from 0.44% per month.
Property Bridging Loan Rates
Bridging interest rates on a property may be affected by the Bank of England base rate and may vary from 0.43% to 1.5% per month, depending on the circumstances.
Development Bridging Loan Rates
Typical interest rates for development bridging loans range from 0.59% to 1.44%. However, these are typical interest rates that vary at both ends depending on the lender.
Auctions Bridging Loan Rates
Prices range from 0.65% per month but may be higher depending on LTV and the condition of the property. Bridging financing for auctions is available for land, commercial buildings, residential and rental property.
Bridging Loan Rates of up to £50,000
Overall, most loans worth up to £50,000 fall between 0.44% and 1.25% per month.
Bridging Loan Rates of up to £100,000
According to the latest data, the average monthly interest rates for bridging loans of up to £100,000 is just under XXX% since the beginning of the year.
Large Bridging Loan Rates
Interest rates on large bridging loans are usually higher, reflecting the risk to the lender, and are subject to processing fees. A typical rate is between 0.8% and 1.5% per month.
Unsecured Bridging Loan Rates
Unlike a secured loan, you can apply for an unsecured loan even if you don’t own a property or don’t have a mortgage, although you can’t borrow as much money. Personal loans typically range between £1,000 and £25,000, and interest rates vary greatly depending on the lender.
No-credit-check Bridging Loan Rates
No-credit-check bridging loans are based on equity, not creditworthiness, which makes it ideal for bad credit customers looking for bridging loans in the UK. Rates can range from 0.4% to 2%.
Bridging Loan Rates Calculator
Our bridging loan calculator is similar to the mortgage calculator, but instead of calculating monthly instalments, our calculator provides information on monthly interest and fees for the lender.
It should be noted that the calculated monthly amount of interest is only the calculated amount of interest and does not include repayment of capital.
Please note that our bridging loan calculator table in the UK serves as a quick overview.
To get real-time interest rates, contact our team because each bridge loan product we offer is completely different from the next as the products are tailored to the credit conditions and requirements of each individual person.
Some of the Sectors we lend to:
- Retail businesses
- Speciality retailers
- Department stores
- Ecommerce stores
- Convenience retailers
- Warehouse retailers
- Bars and restaurants
- Ethnic restaurants
- Fast food outlets
- Fast-casual dining venues
- Casual dining venues
- Premium casual dining venues
- Fine dining venues
- Coffee houses
- Destination restaurants
- Hotels and BnBs
- Self-catering (holiday cottages)
- Bed and Breakfasts
- Camping and caravanning parks
- Hair and beauty
- High street salons
- Spa salons
- Mobile hair salons
- Mobile beauty salons
- Dentists and opticians
- Dental and maxillofacial Radiologists
- Restorative dentists
- Oral medicine stores
- Oral surgeries
- Paediatric dentists
- Special care dentists
- Dispensing opticians
- Dental specialists
- Emergency care specialists
- Surgical specialists
- Cardiac specialists
- Orthopaedic specialists
- Auto Garages and MOT centres
- Service technicians
- Diagnostic technicians
- Brake and transmission technicians.
- Body repair technicians.
- Vehicle refinishers
- Vehicle inspectors
How does the application process for a Bridging Loan work?
After the Bridging Loan Broker understands what the bridging loan you need is and is sure that you have a realistic loan repayment plan, the broker will contact the lenders who he thinks will likely approve the loan application
As soon as you complete the quick and easy loan application form, your details will be sent to our specially trained team of brokers to see if you qualify for a loan.
You must complete the application form in as much detail as possible so that we can make a quick and accurate decision.
After completing the subscription process, you will receive a conditional offer.
Unlike a mortgage, this is not binding and depends on the valuation and certain conditions of the lawyers.
The application will then be forwarded to lawyers. After receiving this independent legal advice, you will understand exactly what you are required to do and can then sign a bridging loan agreement and enter into a legal confidentiality agreement.
After completing the planned purchase, the lender transfers the borrowed funds directly to a lawyer, who transfers them to the salesperson’s lawyer, thereby completing the transaction.
Why Choose Fast Forward Finance for a Bridging Loan?
Unsecured Loans Available
We help businesses to arrange unsecured loans. Unsecured loans can be more beneficial to your business because there is no risk of losing assets if your business is in financial difficulty. The loan is flexible and can be spread over a period that suits you, with a repayment amount that suits your financial needs.
No Early Repayment Fees
Any funds that you pay off earlier than expected can be used to reduce your monthly interest fee. There are usually no early repayment fees unless discussed before taking out the loan.
Flexible or fixed term payments
With many years of experience in providing quick bridging loans, we’ve created a strong network of the fastest and most flexible lenders in the UK to ensure you get the best result in terms of payment terms and rates.
We strive to help you make the application process as fast and easy as possible, regardless of your current position and requirements. Our specialised departments work side by side and are therefore able to offer exit solutions that are so important for the success of short-term financing.
Stellar Customer Service
Much of our success can be attributed to our experienced and competent team of brokers.
By using Fast Forward Finance, you can be sure that you will receive excellent service and a competitive offer that meets your needs and that you will work with a friendly and responsive bridging finance broker.
We’re easy to work with
Our success is based on the pursuit of exceptional speed, flexibility and excellence in customer service, which are crucial for the short-term loan market. The Fast Forward Finance team is responsive, efficient, has good communication and is always available, which is of great importance in the short-term loan industry.
The lenders we work with always try to deliver fair and rational decisions on loan applications, looking more at the exit strategy than at the financial situation of the borrower.
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Transparency Every Step of the Way
Fast Forward Finance has extensive access to specialised bridging lenders who operate on principles of transparency, honesty, integrity and simplicity to ensure that they offer a unique assessment of your application and provide a solution for your needs.
Dedicated Account Executives
At Fast Forward Finance, we understand that fast turnaround time is critical in the property industry. For this and many other reasons, we assign a dedicated account executive to every customer. This individual will work with you all through your bridging loan process and term to ensure that you enjoy a seamless experience.
How to apply online for one of our Bridging Loans
First enter your details in the provided contact form, which contains contact details, loan amount and some other information about the bridging loan.
Our team of specialists will call you back with a request for additional information. Our lenders want to understand your bridging loan plans and other important information, such as your past and exit plan, whether it is a resale or refinancing purchase.
You will be asked to provide basic information about credit requirements, including the address of the property and some information about your company. We will share this information with our panel of lenders. If everything is OK you should receive a basic decision within 24 hours.
The next steps include examining the property and carrying out some basic due diligence. While this may take some time, most bridging loans can be financed within 1-2 weeks of submitting the application.
The lender is mainly concerned with the security put up by the borrower, a non-negotiable condition with bridging finance. Once this is in effect, the lender has its own money covered as defaulting on repayments would give the lender the right to force the sale of the collateral, as per the terms of the loan.
Easy Application Requirements
The lender may ask you to provide the following details when applying for a bridging loan: ID card, property valuation report, business plan and exit strategy.
Bridging loans can often be incredibly time-critical. Fortunately, thanks to Fast Forward Finance you are in safe hands.
Our team works with a large network of lender partners to quickly and efficiently process a bridging loan application. Often, funds can be paid out within 48 hours of approval.
Want to Check your Eligibility Before you Apply for one of our Bridging Loans?
Wondering if you are eligible for a bridging loan or not? Contact us today or fill out an online application. One of the friendly support team members will call you back to discuss your needs.