Nationwide do not currently offer bridging loans and their personal loan service very clearly states, in the terms and conditions, that it may not be used for the purposes of bridging.
However, there are many other reputable lenders out there whose rates you could compare.
Let Us Find You the Perfect Alternative to Nationwide Bridging Finance
At Business Expert we offer a free concierge service for businesses seeking bridging finance. With years of experience, and our fingers on the pulse of the bridging market, let us help broker you the perfect deal at zero cost to you.
We charge nothing for our broker service, nor will it affect the rates you’re offered from the lenders. Instead, we’re paid a simple commission as the introducers meaning for you, it’s a convenient, effective means of accessing the best whole-of-market rates.
Do any Banks do Bridging Loans?
Very few high street banks now offer bridging loans and those that do offer them to existing customers only. In short, if you want bridging finance you will need to use the specialist lending market, which now some very well established and credibile brands.
Here is our current list of bridging providers, and we can provide you quotes from all of them.
- Alternative Bridging Corp Ltd
- Apex Bridging Ltd
- Aspen Bridging Ltd
- Assetz Capital
- Avamore Capital
- Bridge Invest Ltd
- Bridging Finance Solutions
- BY Loans
- Central Bridging
- Close Brothers Bridging Finance
- Devon & Cornwall Securities Ltd
- Eastern Credit Ltd
- Finance and Credit Corp Ltd
- Funding 365
- Goldentree Financial Services
- Heritage Commercial Finance Ltd
- Hope Capital
- InterBay Commercial
- Interbridge Loans
- Lowry Capital Ltd
- Masthaven Bank Ltd
- Mercantile Trust
- Mint Bridging
- Nucleus Commercial
- Oblix Capital
- Octane Capital
- Octopus Real Estate
- Ortus Secured Finance
- Peninsula Finance Plc
- Precise Mortgages Short Term Lending
- Rocket Bridging
- Rocket Bridging
- Roma Finance
- Shawbrook Bank
- Tuscan Capital
- Ultimate Capital
- Ultimate Finance
- United Trust Bank
- VATBridge Ltd
- W M Mann & Co
- West One Loans
Are Bridging Loans a Good Idea?
Bridging finance is an ideal solution for short term funding where there is a clear exit strategy and a healthy profit margin.
Where the loan fits these criteria, for example a property deal you are likely to miss without the fast funding, then bridging loans are a good idea.
Of course, since commercial bridging is unregulated it does come with a caveat, especially around the terms and conditions. Stories abound of borrowers who have found themselves locked into finance with additional exit fee charges or other hidden costs which less the overall profitability of their transaction. As such, it pays to do particular due dilligence where any unregulated finance is concerned and especially something like bridging which comes with relatively high monthly charges.
How Much Would a Bridging Loan Cost?
Bridging loans are generally an expensive form of finance, as befits their short term nature.
Interest rates, which are charged monthly, range from around 0.4 to 2.5%