How much interest do you charge for bridge loans?
The minimum interest rate is 1% per month, our rates vary depending on many risk factors.
What is the maximum amount I can borrow?
The maximum amount you can borrow is £5,000,000.
Can I pay back my bridge loan early?
Yes, you can pay back your bridge loan early and the difference in interest will be reflected in your redemption statement.
Do you provide 2nd charge bridge loans?
Unfortunately, we only provide bridge loans where we can obtain a first legal charge over the property.
Are details about my loan application kept private?
Absolutely, all information about borrowers is kept with strict confidentiality and will not be revealed online.
Do Kenton Finance meet the applicant?
Where loan amounts exceed £2,000,000. We will require a face to face meeting at our offices.
What is the difference between a bridging loan and development finance?
There are a number of similarities with bridging loans when compared to development finance. Both methods of finance are only intended as a short-term funding solution.
Development finance can be taken out for periods of up to 3 years, whereas bridging loans are usually up to a maximum of 1 year. The development finance providers place a great importance on previous development experience, so if this is not available then a bridging loan may be the only option.
How quickly can I get a decision on an application for a secured loan?
You can get a decision in principle within 24hours of making an application online.
Why is Kenton Finance Bridging Loans so quick at arranging bridging facilities?
This is due to many years of experience, access to a wide range of bridging loan facilities, very efficient processing systems and a hardworking, well organised team.
How long does it take for me to get my bridging loan?
It usually takes between 7-10 days to receive your bridging loan facility.
What type of security can my bridging loan be secured against?
Our bridging loans can be secured on residential property, commercial property, building plots and land. Don't worry about the type of construction or the condition of the property, we are very flexible.
Can you arrange bridging loans for people with County Court Judgements, defaults and arrears?
We have a wide range of facilities and can provide bridging finance for clients who have County Court Judgements, defaults.
Can you arrange bridging loans for limited companies and partnerships?
Yes we can, commercial bridging loans are a speciality, provided that there is sufficient security and the ability to repay the commercial bridging loan.
What costs are involved in having a bridging loan?
For bridging loans there is usually an arrangement fee which is only payable once you have your bridging finance facility. Therefore if you do not receive your bridging loan there are no arrangement fees to pay. Arrangement fees and also legal costs can usually be added to the bridging loan facility if required.
Once I have my bridging loan, if I require more funds will I be able to borrow more?
Yes, this can be possible provided that the existing bridging loan facility is not in default and there is sufficient equity available to secure the additional borrowing.