Construction Bridge Loans

Thanks to an increase in demand for affordable housing in the UK, the pressure is on to construct more homes. And, with tough government targets for new homes put in place, it is up to lenders such as Bridging Options to offer flexible finance packages to assist with the costs of construction.

Selecting the right lender to support your construction scheme is often considered to be just as important as choosing the right builder or project manager.

Afterall, you need someone you can trust; a company that has a wealth of knowledge within the construction industry; and a lender that can offer bespoke interest rates and fees to suit your specific needs.

At Bridging Options, we can offer all this and more, so contact us for a free consultation.

What is a construction bridge loan?

If you are a builder, developer or property owner and require additional funding to assist with tight timeframes and budgets, then a construction bridge loan could provide you with the short term finance you need.

A construction bridge loan covers the cost of the building works only and often comes in instalments, delivered as and when your project moves into new stages of development. Alternatively, some construction bridge loans may be paid in one lump sum, when required, to cover a specific part of the build process.

The benefits of taking a construction bridge loan

At Bridging Options, our construction bridge loans give builders peace of mind that the cost of upcoming work can be covered. Our construction finance can also help when: –

  • Your budget is blown.
  • There is a change in scope of work.
  • You need to cover a financial shortfall.
  • You want to fund multiple projects.
  • You need to meet payroll deadlines.

Is a construction bridge loan right for you?

If you are seeking business security, then a construction bridge loan offers many advantages over conventional high street bank loans. These include:

  1. The speed in which funds can be accessed. Often within a matter of days.
  2. Bespoke yet flexible term structures. We look at each application on a case by case basis.
  3. Short term solutions. No long term commitments allowing you to buy and sell as quickly as possible.

Why use us for your construction bridge loan?

We have access to bridging loan brokers across the UK who specialise in construction bridge loans for builders and property developers alike. By using our specialist advice, we can connect you with an independent broker who can access the whole of the market, offering attractive rates and quick finance deals.

We can talk you through the process from start to finish and offer as much guidance as you need along the way.

As with all lending, we charge interest for a construction bridge loan based on the amount of money borrowed. And, since the loan isn’t paid out in full (often until the new construction is complete), you don’t have to start paying until then either.

How can I secure a construction bridge loan?

If you need construction bridging finance in order to start or complete a building project, we recommend that you compare as many rates and deals as possible. But if that sounds too time consuming, then our specialist advisers can do this for you, as they have access to multiple market lenders. 

All we ask is that we see evidence of your past experience and a detailed plan of timings and budgets in advance. This will allow us to better assess the right kind of construction bridge loan for you.

And don’t worry if you are a first time developer, providing you have a thorough understanding of the costs involved in the project, we can walk you through the process.

Just like other types of bridging loans, once the construction finance is agreed, funding will only be released as per the agreed build schedule and will be thoroughly monitored throughout to ensure for a successful completion.

Please remember, that bridging finance should only ever be considered as a short-term funding solution.

Ask the experts for advice

Our bridging finance could be the difference between your project stalling or propelling forwards.

So, for specialist advice from a bridging loan expert who understands the construction industry, please get in touch with us today.

And remember, we have no set rates for construction finance, we only endeavour to find the best rate for you.

Need specialist advice?

Complete the form to arrange your initial free phone consultation with a bridging loan adviser: