When you need financial help to crack on with your next property project, a bridging loan to flip property could be the best option for you.
Specifically designed for property investors and developers, our short-term loan solutions provide fast, flexible access to capital when you need it most.
Using bridging loan to flip property gives you the right funds to cover the cost of buying and renovating properties to refinance or sell.
Some of the most important factors for flipping properties are timing and opportunity. And that’s where a bridge loan for flipping houses can help. These bridge loans are designed for fast turnaround and can help you complete a purchase in as little as a few weeks. A bridging loan to flip property can help you to secure time-sensitive deals, such as auction purchases, and beat competitors to make the most of lucrative opportunities.
Unlike traditional mortgages, bridging loans offer you more flexibility. You can fund both property purchase and refurbishment costs, even if they require major work or are otherwise unmortgageable.
When you ‘flip a house’, you’re buying a property (often below market value) to renovate or improve it to then sell it quickly for a profit. The success of the project depends on buying the property at the right price, managing renovation costs and selling in a strong market to maximise return on investment.
Using a bridging loan to flip property enables you to act quickly and secure a property or fund renovation costs. Flipping houses can be costly, especially if you have an existing mortgage that you need to pay for, along with other bills and expenses. A bridge loan for flipping houses gives you fast access to the necessary funds, so you can get on with your property project quickly and efficiently.
Applying for a loan for flipping houses is straightforward with the right tools. As a bridge loan broker, we’ve got more than 35 years of bridging loan, mortgage and development finance experience. We work with a panel of 300 lenders who could offer you a bridging loan that suits your unique personal and financial circumstances.
Simply fill in our online form to request a bridging loan quote and we’ll provide you with a complimentary assessment that’s tailored to your financial situation. You can use our handy bridging loan calculator to help you work out the estimated rates and amount you can borrow with a bridge loan. We have an approval time of just 2 to 4 hours on average, with competitive interest rates offered by our lenders.
If your application is successful, you’ll typically have around 12 months to repay the loan, although this may be longer depending on your circumstances. Along with buying properties, a bridging loan can also help fund renovation and refurbishment costs. Your loan will be secured against an asset, such as an existing property, so it’s important to consider whether you can make the required repayments on time and in full.
A bridge loan can be used to purchase or renovate residential homes, including flats and houses, along with auction properties that you need to act quickly to buy.
Bridging loans allow you to purchase properties that are run-down and needing major refurbishments or lacking bathrooms and kitchens and not eligible for mortgages. Even structurally incomplete properties or stalled developments can be eligible for a bridge loan, provided you have a plan and exit strategy in place.
At Bridge Loan Direct, we specialise in fast, flexible funding solutions for property professionals across the UK. We know how relevant it is to act quickly, which is why we work with lenders to offer same day assessments and quotes. You can find flexible lending terms and benefit from our years of experience and knowledge.
Along with loans for flipping houses, we can also help you find commercial investment loan, along with personal bridging loans such as residential bridging loans. Whatever type of bridging loan you need, we help you find loans with transparent fees and a flexible, personalised service.
You can typically borrow a bridge loan for flipping houses for 12 months, although you may be offered longer repayment terms depending on your circumstances and application.
We can help you find competitive interest rates, although the exact rate varies depending on the lender, your application and financial circumstances.
Many lenders will work with first-time flippers if you have a clear renovation plan, accurate costings, and a realistic exit strategy. Some lenders may ask for more supporting information.
An exit strategy is your plan for repaying the loan. It may be based on selling an existing property or refinancing onto a long-term mortgage. The stronger your exit strategy is, the more likely you are to get approved for bridge loan.
Bridging loans are ideal for auction purchases, where buyers must typically complete within 28 days.
