Frequently Asked Questions
What can I use my loan for?
It can be used for almost any purpose.
How much can I borrow?
We can arrange bridging loans from £10k to £100k
What costs are involved in taking out a bridging loan?
A valuation fee is payable. Legal fees will be added to the loan. An administration fee and monthly interest. We do not charge any up front fees.
What type of security will you lend against?
We will lend on all types of residential, commercial and semi-commercial properties subject to valuation.
What is the monthly interest rate?
Interest rates start from 1% per month
Can we settle our loan early?
We offer flexibility. You decide the term, not us. We offer loans for periods between 1 and 12 months.
Is there a charge for making an application?
No fee whatsoever!
Can we apply even if we have an existing mortgage?
We specialise in 'Second Charge Bridging Loans'. We simply register our charge behind your existing mortgage lender.
How long will it take?
We can provide a same day decision and the bridging finance loan is normally complete within 5 days (we may need consent from the first charge holder, if this is the case it can take a little longer).
What about adverse credit?
Positive Finance take an individual view of all applications and can accomodate all circumstances other than current bankrupts.