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Halifax Bridging Loans

Halifax bank previously called Halifax Building Society is a bank trading under the Bank of Scotland, which is owned by Lloyds Banking group.

Halifax bank provides a vast array of finance facilities from bank accounts, loans, mortgages, overdrafts and business banking services.

Halifax stopped offering bridging loans in 2013, due to the tighter borrowing regulations on unregulated home loans after the credit crunch in 2007 – 08. The bank currently only provides long term mortgages to homeowners.

Halifax Bridging Loans

Get a No Obligation Bridging Loan Quote Today or Call 020 3393 9277

CONTENTS

  1. What are Alternatives to a Halifax Bridging Loan
  2. Are There Banks That Offer Short Term Loans Today
  3. Will Halifax Bank Re-introduce Bridging Loans
  4. List of Lenders
  5. What are the Costs on Bridging Finance
  6. Are They Right For Me?

What are Alternatives to a Halifax Bridging Loan

Property Finance Partners is an experienced property finance broker offering a wide variety of finance facilities for the real estate market, which includes bridging loans.

Property finance Partners has a whole of the market access to bridging loans so that we can offer some of the lowest rates in the U.K as well as access to fast capital.

Our process is quick and can offer terms the same day and access to the money within hours if we have the full documentation at hand.

Why Property Finance Partners

✔ The whole of the market access

✔ Lowest Rates in the U.K

✔ Fast access to capital

✔ Up to 80% LTV 

✔ 100% LTC

✔ Money from £20,000 to £1 billion

Are There Banks That Offer Short Term Loans Today

In today’s’ market, there are few banks that have a short-term secured finance facility available. The banks that offer this form of finance will only provide this facility to their existing customers.

Will Halifax Bank Re-introduce Bridging Loans

With the current economic factors and the regulations placed on short-term finance, it is highly unlikely that Halifax Bank will offer a short-term loan soon. Although like some banks, they may at some point, deliver this finance solution to existing customers they have built up a relationship with over time.

List of Lenders

There are currently many specialised lenders that offer a bridging loan facility. The following is a list of some of the principal lenders in the U.K. offering short-term secured finance. 

  • Affirmative Finance – Also offers development finance with flexible terms.
  • Alternative Bridging Corporation – Offering a range of solutions for residential and commercial.
  • Amicus PLC – Offer a wide variety of property finance facilities, including a short-term bridge.
  • Apex Bridging – Offering many types of property development loans.
  • Ashley Finance – A commercial lender is offering many loan facilities for commercial property and businesses.
  • Aspen Bridging – A specialist bridging lender that has several solutions for short-term borrowing.
  • Avamore Capital – Specialists in Bridging finance providing a variety of bridge loans.
  • Barton Bridging Capital – They offer flexible short-term loans for borrowers.
  • Bespoke Bridging Finance – A specialist lender is offering loans to borrowers.
  • BiG Property Finance – Targeting the property development arena, they offer large sums.
  • Bishopgate Funding – A specialist in development finance, offering a range of tailored solutions.
  • Bridge Invest – Loans for investors and property developments. Quick, reliable finance tailored to each case.
  • Bridging VAT – Specialises in offering a bridge for VAT financing as well as recover solutions.
  • Castle Trust – Has a variety of solutions for developers, including Mezz finance.
  • Century Capital – Fast and reliable lender offering tailored solutions for every case.
  • Chartered Capital – Business owners can access the bridging finance facilities offered here.
  • Commercial Acceptances – Provides unregulated fast short-term solutions.
  • Devon and Cornwall Securities Ltd – Offers a personal solution, fast and flexible loans available nationwide.
  • Eastern Credit Ltd – Offers bridging facilities, both regulated and unregulated.
  • Elysium Bridging – Targeting developers and investors in the property finance market.
  • FBSE Finance – Adaptable finance facilities for business and residential.
  • Finecorp – Offers bridge finance for both residential and commercial. They are tailor-made and flexible in each case.
  • Funding 365 – Known for quick processing and tailored differently depending on the project.
  • Glenhawk – Provides finance for property development and buying from an auction.
  • Golden Tree Financial Services – Offers bridging to both residential and commercial sectors.
  • Greenfield Capital – Offering loans for residential property and businesses.
  • Hampshire and Trust Bank PLC – Offers various property finance solutions, including development loans.
  • Helmsley Group – They are principal lenders providing solutions for developers in the U.K.
  • Hertford Solutions LLP – The lender specialises in non-status bridging finance for the business sector.
  • Hope Capital – A well know principal lender offering bridging solutions for both residential and businesses.
  • Interbay Commercial – Provides funding for commercial auction buyers and other industrial situations.
  • Interbridge Loans – Lending short-term secured finance for all. Both regulated and unregulated loans.
  • Invest and Fund – Is a company that also offers development finance.
  • Jumbo Bridging – As the name entails, they provide high value bridging loans.
  • Just Bridging – Offering high-value loans targeting the business sector.
  • Kleinwort Hambros – Offering short-term finance solutions to the real estate market.
  • Kuflink – Is a peer 2 peer funding model for the property sector in the U.K
  • Lendinvest – Another peer 2 peer format that lends money for developments.
  • London Credit – A quality bridging finance company providing bespoke solutions for investors and developers in the property market.
  • Lowrey Capital Ltd – They specialise in bridging loans for developers, refurbishments, auction buyers and other property sectors.
  • Market Financial Solutions – Provides fast bridging to intermediaries and end clients.
  • Masthaven Bank – Provides solutions for the property market, including bridging and buy to let.
  • Mint Bridging – A fast and reliable principal lender, Mint is well known in the bridging loan sector.
  • MT Finance – Offers bride loans for both the commercial and residential areas.
  • Nucleus Commercial – The lender has a wide range of loans available and some with government guarantees.
  • Oakbridge – Offers regulated as well as non-regulated loans for property.
  • Oblix Capital – Concentrates on the commercial area offering development finance, refurbishment loans and more.
  • Octane Capital – Also provides other loans like development exit, buy to let and refurbishment.
  • Octopus Property – Has different lending solutions for commercial, residential as well as developments.
  • Ortus Secured Finance – Finance facilities that are short term and backed by property. 
  • Peninsula Finance PLC – Based in Devon, this finance company works with residential, commercial and developments.
  • Pivot – Offers finance solutions nationwide, including for developers, refurbishments and private homeowners.
  • Portman Finance – Offers bridging and development finance in the U.K.
  • Precise Mortgages – Provides first and second charge loans as well as a buy-to-let specialist.
  • Proplend – Property secured and risk investment loans targeted at developers and investors in the real estate market.
  • Reward Finance Group – Offering short and medium-term lending facilities from 2 – 24 months.
  • Rocket Bridging – Fast and flexible short-term loans up to 80% LTV in the U.K
  • Roma Finance – The lender offers loans from 3 – 12 months for developers, buyers at auction and buy to let.
  • Seneca Bridging – Provides short-term secured finance for residential and commercial sectors.
  • Shawbrook Bank – The bank is offering business and property finance nationwide.
  • Signature Private Finance – Offers short-term finance for landlords, developers and property investors.
  • The Bridgwood – It is a crowdfunding lending facility for developers and investors.
  • The House Crowd – A peer 2 Peer lending platform is offering short-term finance solutions.
  • Together – Provides secured property loans, auction finance and much more throughout the U.K
  • Ultimate Capital – The lender concentrates on development finance and provides loans from 6 – 12 months.
  • Ultimate Finance – The lender is a principal provider of asset finance and bridging loans.
  • United Trust Bank – Incorporated in 1955, the bank provides lending facilities on a short-term basis for developers and investors.
  • VATBRIDGE – Providing bridging finance solutions for VAT and property buyers.
  • Vitvo – Is a well-established lender offering loans for property developers and commercial projects.
  • W M Mann and Co – Based in Glasgow, Scotland, they offer short term finance facilities.
  • West One Loans – They are specialist lenders on the first charge and second charge bridge loans.
  • Zorin Finance – Provides development finance and short-term facilities in the real estate market.

What are the Costs on Bridging Finance

A bridging loan is a short-term finance facility and considered risky as such; it is typically more expensive than other long term finance such as a mortgage. You will typically look to pay between 0.3 to 2.5%

There are several fees associated with bridging loans, and they are:

  • Arrangement Fees –These are typically between 1% to 2% and are paid at the start of the loan.
  • Valuation fees – The valuation fees differ from lenders, and it also depends on which valuation company is on the panel, but for a £500,000 property it would be around £700
  • Legal Costs – You would be expected to pay the legal costs for both yourself and the lender.
  • Administrative Fees – Some lenders have an admin fee, and some do not. This will depend on the lender.

Are They Right For Me?

This would depend on what you are looking to do with your project. Bridging loans are a good idea for short-term finance to bridge the gap until you have an exit strategy in place.

There are other finance facilities available for short term projects, such as development finance, which may be better suited to your needs. Here at Property Finance Partners, we are experts in property finance, and we can guide you on getting the right facility for your project, which will ultimately save you money and time.

Even though Halifax bank is not providing bridging loans, there are plenty of specialist lenders that do. Property Finance Partners has relationships with the whole market lenders and in an instance, can find the best deal for you. Call us on 020 3393 9277.

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