Surrey, a county located in the southeast of England, bordering Greater London, is known for its picturesque countryside, affluent towns, and excellent transport links to the capital.
With a population of over 1.2 million, Surrey offers a diverse range of housing options, from charming period properties and expansive country estates to modern apartments and new-build developments. The county’s desirable towns, including Guildford, Woking, and Epsom, along with its proximity to London, contribute to a thriving property market.
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Your Trusted Bridging Loan Partner in Surrey
Respect Capital is your dedicated bridging finance partner in Surrey. As experienced finance experts, we have access to the best bridging loan brokers and lenders in the UK.
Our deep understanding of the Surrey property market, combined with our commitment to personalised service, allows us to find the most suitable and competitive loan options for your needs.
We understand that time is often of the essence in property transactions, especially in a fast-paced market like Surrey. That’s why we prioritise fast turnaround times and clear communication throughout the process. Our goal is to provide you with the financial support you need to seize opportunities and realise your property ambitions in Surrey.
What are Bridging Loans and How Can They Help You?
Bridging loans are short-term financial solutions, typically with terms up to 36 months, designed to provide quick access to capital, usually for property-related purposes.
They offer a flexible and speedy alternative to traditional mortgages, bridging the gap between buying and selling a property or securing long-term finance. You can borrow upwards of £50,000 to support your property ventures. Both regulated and unregulated options are available depending on the nature of your project and individual circumstances.
In Surrey, bridging loans are commonly used for:
- Chain Break Finance: Secure your dream home in Surrey’s competitive market without waiting for your current property to sell.
- Renovation & Refurbishment: Finance property improvements to increase its value or create your ideal living space.
- Auction Purchases: Quickly secure funds to complete a property purchase at auction.
- Property Development: Fund small or large-scale development projects, from converting commercial spaces to new-build residential developments.
- Downsizing: Bridge the financial gap when downsizing to release equity from your current property before purchasing a smaller home.
- Expat & Foreign National Purchases: Secure funding for property investment in the UK even if you are not a UK resident
Example: Bridging the Gap in Surrey
Imagine you’ve found the perfect family home in Guildford, but your current property is taking longer than expected to sell. A bridging loan can provide the funds to secure your new home, allowing you to move in while you wait for your existing property to sell, avoiding the stress and uncertainty of a broken chain.
Why Surrey Investors Choose Respect Capital for Bridging Loans
We’re committed to providing the highest level of service to our clients in Surrey. Here are just a few reasons why they choose us for their bridging loan needs:
- In-depth Local Knowledge: Our extensive experience in the Surrey property market ensures we understand the unique challenges and opportunities in the area, enabling us to provide tailored advice and solutions.
- Access to Competitive Rates: We work with a wide range of lenders and brokers, allowing us to secure the most competitive bridging loan rates available.
- Expertise with Expats: We have a proven track record helping expats and foreign nationals secure bridging loans in the UK
- Expert Guidance: Our team will guide you through every step of the application process, from initial enquiry to completion, providing clear explanations and support along the way.
- Quick Turnaround Times: We understand the importance of speed in property transactions. Our streamlined processes ensure you receive funding quickly, allowing you to act fast on opportunities.
- Personalised Service: We take the time to understand your individual needs and financial goals, ensuring you receive the most suitable bridging loan solution for your circumstances.
Frequently Asked Questions About Bridging Loans in Surrey
- Who is eligible for a bridging loan? While a good credit score can be beneficial, we understand that circumstances vary. We work with lenders who consider various factors, including your exit strategy and the property’s value, to assess eligibility.
- What are the typical interest rates and fees? Bridging loan interest rates tend to be higher than traditional mortgages due to their short-term nature. However, we strive to secure the most competitive rates available.
- How are bridging loans repaid? Repayment is typically via a lump sum at the end of the loan period, often through the sale of the property or refinancing onto a longer-term mortgage.
- What is the maximum Loan-to-Value (LTV) for bridging loans? The maximum LTV can vary depending on the lender and your circumstances, but typically it’s up to 80% of the property’s value.
- Are second charges available for bridging loans? Yes, second charge bridging loans are available, providing you with additional finance secured against a property that already has a mortgage.
- What are some typical use cases for bridging loans in Surrey? Common uses include bridging the gap between buying and selling properties, funding renovations or conversions, purchasing properties at auction, and financing property development projects.
Need some help?
If you need a short-term bridging loan then a specialist broker is a good place to start. You will get expert help and advice along with a wide range of lenders to choose from.
To get matched with a specialist broker, please call us on 0330 030 5050.