What is a bridging Loan?
A bridging loan is a short-term loan that can be secured against a property and is designed to “bridge a gap,” until longer-term finance can be arranged or an underlying security is sold. Read more about how a bridging loan can help here.
What can I use a bridging loan for?
A bridging loan can be used in a wide variety of instances. Whether funds are required for buying-to-let, purchasing a property at auction, conduct refurbishments or providing your business with capital, Finance Beam is here to get bridging loans completed in a matter of days. Click here to apply now
How much can I borrow?
Finance Beam lends from £50,000 to £100,000,000.
How long can I have the bridging loan for?
Finance Beam lends for a minimum of 3 months to a maximum of 24 months.
How long will it take to get the funds?
At Finance Beam, our processes are designed to provide finance quickly. An average application takes 7-11 days to complete, but we can complete loans within a matter of days, depending on your circumstances.
What type of security do you accept?
Finance Beam accepts security on residential properties, commercial properties or mixed residential/commercial assets. Unacceptable property types include land/ care homes/ places of worship/ schools/ trading pubs and hotels/property that is not based in England or Wales.
What are your rates?
Our rates start from 0.75% for both a first legal charge bridging loan and a second legal charge bridging loan. However, Finance Beam evaluates each application on its own individual merits, so our pricing is flexible.
What are your repayment methods?
Our loans are structured to give you the time and space needed to fulfill your goals. Our typical loan structures include interest rolled, monthly payments, interest deducted and flexible repayments. You can read more about our repayment methods here.
Are there any upfront fees?
We have no upfront fees. The only fee which is payable in advance is the valuation fee.
Do you charge exit fees?
No. At Finance Beam we do not charge any exit fees. Our loans are subject to a minimum 3-month term, after which you may repay the loan early or make lump sum payments, without incurring any fees.
Can I pay my bridging loan off early?
Yes. After the initial minimum 3 months, Finance Beam does not charge early redemption penalties if you wish to pay off the loan earlier than contracted.
Do you lend to first-time property investors?
Yes. Finance Beam welcomes first-time investors.
Do I need a solicitor?
Yes, it is advised that you get legal advice. If you are looking for an independent solicitor to act on your behalf, get in touch and we can help you find one.
What information will you require?
In order to provide you with indicative terms, we will require the information found on our enquiry form. To learn more about our process, click here.
What is a first legal charge bridging loan?
A first legal charge is a principal loan on a property. In the case of first legal charges, the lender takes precedence above all others; being the principal lender of the loan.
What is a second legal charge bridging loan?
A second legal charge is secured against a property that already has a loan or mortgage outstanding. Second charge loans require consent from a first charge lender.
Lets get Started
FinanceBeam provides handcrafted funding solutions to suit every client's needs. We offer impartial advice securing Short Term Bridging loans from £50,000 - £100 million and makes the process fast, flexible and 100% unique to you. Start your process today!