Founded in 1859 in Halifax, Yorkshire Bank now operates more than 90 branches, 22 business and private banking centres in the UK. Yorkshire Bank is owned and operated by CYBG plc.
The most common use of a Yorkshire Bank bridging loan is for property purchases. Yorkshire Bank bridging loans assist homeowners moving house, wanting to purchase another home before selling their existing house. When equity is tied up in an existing mortgage, a bridging loan might be the most appropriate way forward to pay for the property sale.
A bridging loan is useful to property developers, buying property at auction and landlords managing a property portfolio. When moving home a bridge loan is useful to avoid a property chain, ensuring they acquire the new house while waiting for mortgage funds.
Bridging loans are short term loans and personal or secured loans are long term. Securing bridging finance will not guarantee a mortgage.
In reality, the speed of receiving funds for bridging loans in your account is the key difference between the two types of finance. It takes a longer time for high street banks to complete a standard loan, compared with a bridge loan that takes two or three days.
Adding up fees, the loan amount and the interest rate, provides an approximate cost of bridging finance. Below is what to expect regarding bridging loan interest rates and what factors can impact the amount of interest you will pay.
Our calculator provides approximate costs associated with your bridging loan. There are many bridging loan providers with rates exceeding others. We search the market and compare the best deals.
Free... No Obligation, No Preliminary Credit Checks