Residential Loans

Find out here how BBS Law has specialist solicitors that work in Secured Lending and specifically, Residential Loans.

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What Are Residential Bridging Loans?

A Residential Bridging Loan is a type of short term loan that you get when you want to use a house or flat as security for a short term loan.

Bridging loans can play a crucial role in the investment or development of residential property. Whether you are buying a property at auction, looking to raise finance against a property you have already or thinking about refurbishing or redeveloping a residential property you most likely will have considered bridging finance.

Bridging loans are typically short term loans provided for a period of around 3 to 18 months and quite often borrowers are not required to provide any other security other than a charge over the property. This means that the loans tend to be completed quickly which can be a massive advantage for investors who are looking to capital raise or purchase in a hurry or developers who are looking to complete a project and then either sell a property on or finance it on a long term basis once any redevelopment has concluded.

If you are a lender it is crucial your legal team understands the bridging loan process. A lender will generally have a specific set of enquiries and information that it needs and a solicitor needs to be skilled in providing the information as well as understanding the nature of the security that the lender is looking to put in place. Above and beyond a legal charge, there may be personal guarantees, deeds of priority, debentures, charges over shares and many other less common types of security. At BBS Law we have the knowledge to be able to advise and implement a broad range of security types.

Whether as a lender you are looking for sole representation or dual representation it is vital that you have a legal team familiar with the bridging process combined with the ability to advise you on any unusual issues that may arise during the investigations that are carried out before you commit to the loan.

If you are a borrower, BBS Law is an ideal firm for you. Our secured lending team deals daily with investors and developers taking bridging finance and we understand the pressures and the process so that we can advise you on any risks or requirements which you may not be aware of.

How Our Lawyers Assist with Residential Loans

Our Secured Lending team is highly regarded and experienced in dealing with the requirements of both lenders and borrowers when it comes to bridging finance on residential property. As bridging loans are generally intended to be unregulated it is important that the lawyer understands the legal aspects of these loans as well as being able to appreciate the challenges that come with acting on bridging finance transactions.

Our Secured Lending team acts for a significant number of bridging lenders. Our lender clients appreciate our ability to conclude matters quickly combined with our pro-active approach to ensure any challenges we meet along the way are commercially and safely managed from the lender’s perspective. Our “can do” approach and our consistent focus on strong communication with all parties involved on a bridging loan means that lenders are assured that where there is a problem we will try and help them deal with it but at the same time our lenders are assured by our knowledge and expertise which enables us to complete deals without their security being compromised.

Secured Lending Partners

Frequently Asked Questions

What Are Closing Costs, and How Much Should I Expect to Pay?

Closing costs in the UK refer to the various expenses associated with completing a property purchase, including legal fees, stamp duty (if applicable), land registry fees, survey costs, and potentially lender fees. The exact amount you’ll pay in closing costs depends on the property’s value, location, and other factors. It’s advisable to consult with one of our solicitors or conveyancer to get a more precise estimate.

What Is a Pre-approval, and Why Is It Important?

In the UK, a “mortgage in principle” or “agreement in principle” serves a similar purpose to a pre-approval in other countries. It’s a conditional offer from a lender indicating the maximum amount they would be willing to lend you based on your financial information. This is important because it gives you a better understanding of your budget when house-hunting and can make your offers more credible to sellers.

What Are the Tax Implications of a Residential Loan in the UK?

In the UK, there are tax implications related to residential loans and property ownership.

For instance, you may be liable for Stamp Duty Land Tax (SDLT) when purchasing a property, and you may have to pay Capital Gains Tax (CGT) if you sell the property and make a profit.

Additionally, mortgage interest tax relief has changed, and it’s important to understand the current tax rules, which can be complex. Seeking advice from us at BBS Law is advisable to navigate these matters effectively.

Our Secured Lending Partners

We take the time to get to know our clients and their businesses, and we work collaboratively with them to achieve their goals.

Meet Our Teams

Avi BarrPartner

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Robert RosenbergPartner

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Safiyah Bhaiyat Partner

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Worked with Avi and Matthew on many transactions and they never fail to deliver. Their service, knowledge and expertise is 2nd to none but their proactive approach sets them apart. Delighted to work with them time and time again.

Meir

After appointing BBS I was introduced to Kelly and Safiyah who would be looking after my property sale. I was impressed with them every step of the way, they kept me informed, avoided some potential issues and were thoroughly professional. What I like the most was the personable way they dealt with the matter, very attentive and always on hand to move things forward. A real pleasure to deal with thank you both.

Sean

Avi, Safiyah & Kelly have dealt with a number of transactions for me over the past few years. Their attention to detail is incredible. They are a hard working team who will ensure you get the deal done without any fuss. Emails get replied to, matters get dealt with swiftly and i was kept in the loop the whole time. If you would like to get the deal done in good time and with professionalism then look no further! I would highly recommend them and look forward to doing more business with them all in the near future.

Josh

We are delighted to be working with BBS Law on our Bridging Loans. Avi Barr and his team provide a highly efficient service which is appreciated by us and our borrowers. Whether we are working on single buy to let properties or more complex loan scenarios we are always confident of the BBS team's ability to deliver a result focussed on our requirements and objectives.

Anthony Bodenstein, Founder & Managing Partner of Whitehall Capital

Secured Lending Case Studies

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Ballingdon Hall: Financing a New Chapter in a Historic Property’s Journey

In a recent transaction that bridges the past with an exciting future, Avi Barr and Ellen Roberts led the BBS Law Secured Lending Team representing Ryse Finance in advancing a £1,000,000 bridging loan secured against one of Suffolk’s most remarkable…

Achieving Unconditional Exchange on a Consented Development for 33 New Homes in West Byfleet, Surrey

Introduction We are thrilled to share the success story of our Property Partners, Avi Barr and Safiyah Bhaiyat, who were instrumental in achieving an unconditional exchange on behalf of our developer client on a consented development of 33 new homes in the beautiful…

Secured Lending

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Case Study

Residential Loans

What Are Residential Bridging Loans?

How Our Lawyers Assist with Residential Loans

Secured Lending Partners

Frequently Asked Questions

What Are Closing Costs, and How Much Should I Expect to Pay?

What Is a Pre-approval, and Why Is It Important?

What Are the Tax Implications of a Residential Loan in the UK?

Our Secured Lending Partners

Meir

Sean

Josh

Anthony Bodenstein, Founder & Managing Partner of Whitehall Capital

Secured Lending Case Studies

Ballingdon Hall: Financing a New Chapter in a Historic Property’s Journey

Achieving Unconditional Exchange on a Consented Development for 33 New Homes in West Byfleet, Surrey

Secured Lending

Ballingdon Hall: Financing a New Chapter in a Historic Property’s Journey

Heter Iska: A Comprehensive Guide for Lenders and Borrowers

Avi Barr, Head of Secured Lending, Talks Property Finance 🎙️

BBS Law Facilitates £2.275M Loan

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