Residential 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.