Easy Bridging Loans reviewed

Established on the Internet in two thousand and four, Easy Bridging Loans PLC has fast become the premier Bridging finance lender throughout England, Scotland and Wales. Well known for their fast decision and quick advances, they undertake their business in a selfless manner, always thinking ahead as to what the borrower can afford to repay, rather than think about how much they can make from their lending service. Their loans work on an interest only basis, and they only charge interest on when the finance is outstanding, not for the duration of the bridging.

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They deal with both commercial finance and personal loans and all financing is on a secured loan basis, with a typical statement on their web pages stating that your home may be repossessed if repayments are not met. Flexible in their approach, they will extend the lending if you run into a short term problem when making your repayments. Their employees are friendly, helpful and if the circumstances warrant it, will also be sympathetic as to your borrowing requirements. Bridging loans are their primarily, and only form of lending, and deal with only residents of the UK mainland.

Once you give them a call, they will ask a few necessary questions like full address and contact details, the loan amount you wish to lend, what you would like to use as security, the value of the property and how much, if any, outstanding mortgage is left to pay. From this, they will ascertain the full amount that you are able to borrow. Due to the nature of the lending, minimum amount being twenty seven thousand pounds, it is just out of jurisdiction of the FSA (Financial Standards Agency), so in effect is an unregulated form of borrowing, as is the case with the majority of bridging loans lenders, so there is no need to conduct a credit check, as they are securing the loan value against your landed estate or property, not you. Failure to meet can result in repossession.

Easy Bridging loans terms and rates

Easy bridging loans PLC are actual bridging finance lenders, not brokers who act as an intermediaries on behalf of another lender, so their are no set up or finders fees to pay. Their typical secured loans are based on the equity in your property. So if you house is worth one hundred thousand pounds and you have twenty thousand pounds outstanding on your mortgage repayments, they will work out your lending possibilities on the eight thousand pounds. Typical you can borrow seventy five percent of this value, so in this case, it would around sixty thousand pounds.