The Woolwich Equitable Building Society was taken over by Barclays in August 2000, with all accounts being migrated to the Barclays Group in early 2007.

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Bridging Loans from Woolwich

Bridge finance is a type of short-term loan. Bridging loans are best thought of as a temporary loan which helps to bridge a financial gap, until you're able to clear the loan in full or secure a more permanent kind of finance. This is where the bridge idea comes in - funds to get you from one step to another.

Bridge Finance Interest Rates

Bridging loans are a short-term funding option. They are used to bridge a void between a debt which is due - and we are talking largely about those involving property transactions, and the main line of credit being available. A bridging loan can also serve as a short-term loan in pressing circumstances. They can be invaluable in helping with buying a property which in other situations wouldn't be feasible. But as you might know with a stop-gap measure, they can be more costly compared to a regular loan. Woolwich bridging loans can be used for many number of purposes, which can be quite complex in nature. While banks like Santander and Barclays implement set rules when examining loan applications, bridging finance lenders, such as the Woolwich, often take a more flexible approach.

The Popularity of the Bridging Loan

The popularity of bridging loans has grown over the last few years, with the high street building societies and banks the likes of Barclays, Santander, Yorkshire Bank and HSBC becoming slower and increasingly hesitant when providing mortgages and financing becoming a far more protracted process. With the release of the Mortgage Market Review rules some years ago, mortgage applications became a longer process to complete, raising the possibility that bridging loans might end up being a lot more popular still for time-critical purchases.

Applying for Bridging Finance

Having some security, residential property, commercial property or land, alongside a reasonable credit score are the two things you'll need to have before you are able to begin your application for bridge finance. The next step involves filling out an online loan application. With bridge loans, the vital things loan providers are looking for are: the quality of the asset you're offering as security and quality of exit, which essentially means how you plan to pay back the loan. Bridging finance isn't a cheap funding option so it is important you understand how you are going to get out of before you get in.

Online Bridge Loan Calculator

We've made our bridging finance calculator very easy to use. It's an extremely useful tool to help you:

  • Produce estimations as to how much interest you will have to pay back.
  • Discover how much you may be able to apply for.
  • Figure out how much you'll be able to borrow without impacting your credit score.

Our bridge finance calculator can aid you in finding the bridging loan that’s right for you. In addition to giving you an accurate estimate regarding how much you are able to apply to borrow and how much it is going to cost you, the bridging loan calculator can also help you narrow down the deals which are best suited to your situation.

Development Finance at Woolwich

At the time of its takeover by Barclays, Woolwich offered an extensive catalogue of personal and business banking services. Nevertheless, development finance wasn’t one of the firm’s specialist areas. Business loans were available for a variety of purposes, but those designed specifically for property development projects were off the cards.

Today, Woolwich is owned and operated by Barclays – one of the largest and most successful banks in the world. Over the years, Barclays has grown to become an extremely popular choice for businesses looking to secure funds for a variety of purposes. Development finance services fall into four distinct lending brackets:

  • Residential investments
  • Residential developments
  • Commercial investments
  • Commercial developments

Open to applicants at all levels, borrowing costs vary in accordance with requirements and financial status. Nevertheless, the additional fees and charge attached to development finance at Barclays are known to be rather high.

Independent Advice, Expert Consultancy

Operating as an independent British broker, we’re free to tell it like it is. Here at Donkey Finance, we offer a complete catalogue of services for businesses and investors at all levels. Whether you’re planning ahead or in need of funds for an on-going project, we’re standing by to offer our full support.

By working closely with major banks and independent lenders alike, we’re able to access exclusive deals you won’t find elsewhere. Unlike some, we’re proactive when it comes to eliminating unnecessary borrowing costs from the equation. Whatever deal you’re offered by a bank like Barclays, you can rest assured we’ll beat it!

All Cases Considered

Whether you’re looking to borrow £20,000 ore £20 million, we’ll do whatever it takes to set you up with your ideal lender. Irrespective of your credit history and current financial status, we’ll ensure your application is given fair consideration.

Just as long as you can secure the loan with the required collateral, you’re more likely than not to be accepted.

Check out our complete range of services online, or reach out to a member of the team at Donkey Finance to discuss development finance in more detail.

Mortgage Loan Products From Woolwich

Mortgage calculators provide an excellent way to find out the total value of the mortgage you’ll be able to apply for and what the repayments will be. A mortgage calculator can be used for any type of mortgage including first time buyer and buy to let mortgages.

Commercial Mortgages from Woolwich

A Commercial or Business Mortgage is designed for individuals and companies purchasing or re-mortgaging business premises. These financing products are also available for mixed use property, such as residential and part commercial.

Types of Business Mortgage

Speaking roughly, commercial mortgages are useful for 3 purposes:

  • Owner-occupied: Where the applicant seeks a brand-new property to relocate to, or is planning on acquiring the property where they operate from.
  • Residential buy-to-let: These are useful for those seeking to acquire a residential property to be rented out. These are used by buy-to-let companies and private landlords.
  • Commercial buy-to-let: Just like residential buy-to-let, these can also be used for buy-to-lets.

For example, you could use a commercial buy-to-let to purchase a warehouse that you may rent out to another business.

Help-to-Buy Loans from Together Money

A Help to Buy Loan is designed to those looking to buy a brand-new home with an affordable deposit or to assist a first-time buyer with gaining access to the first rung on the UK property ladder.

A Quick Breakdown of the Help to Buy scheme

There are three key parts to Help to Buy:

  • London Help to Buy
  • Help to Buy equity Loans
  • Help to Buy ISAs

To be accepted for the scheme, you must:

  • Be purchasing a property that you intend to stay in the majority of the year
  • Make a down payment that is a minimum of 5 percent
  • Look to be buying a property worth a maximum of £600k

What Are Help to Buy Equity Loans?

These represent one of the most common methods of getting onto the property ladder and are designed for those intent on purchasing new-build properties.

A Help to Buy equity loan works as follows:

  • You deposit at least 5% of the property’s value
  • The government will then provide 20% of how much the property is valued at in the form of an equity loan
  • The mortgage you get must cover the rest of what the property is worth, so, if you put down a deposit of 5% and your loan from the government was 20%, you would then take out a 75% mortgage

Business Funding from Woolwich

It’s impossible to get business start up funding through Woolwich, as they have been acquired by Barclays, which means that if you need business finance options, you will want to turn to us. At Donkey Finance, we specialise in providing funding for business needs so that you don’t ever have to worry about whether you can move on an opportunity, expand your business, or deal with bills while waiting on your accounts receivables to reconcile. Because we offer both new business funding options and funding for established companies, you can rest assured that we will provide you with the help and service that you need.

Get the Amount You Need

One thing that you have to consider when you are looking for new business finance is how much money you need to meet your goals. At Donkey Finance we know that sometimes you only need a little money, while other times you need to borrow a lot more, which is why we offer loans up to £200,000. This means that you can easily select an amount that will meet your needs so that you won’t fall short or borrow too much. Additionally, we have varying terms for our small business finance products, depending on your time frame, so you can borrow money for six months up to five years.

Find Out Right Away

One reason that so many business owners turn to us for alternative business funding is that we respond quickly to your application. Not only can you get help from a professional team member if you have problems during the application process, but we can generally approve small business funding loans within 24 hours. This means that you get the business funding that you need without a huge delay, which can not only be frustrating, but a delay can cause you to miss out on a great opportunity, as well.

At Donkey Finance, we understand the need for businesses to get the money that they need as soon as possible, and as long as you have enough annual turnover and are able to offer security property, we are happy to help you with finance for business needs. You can count on us to provide you with the best financing option for your company, which means that you will get the money that you need, when you need it, and you won’t have to worry about overpaying. Additionally, thanks to our professional care, you can rest assured that you are getting the service that you deserve.

Commercial Loans from Woolwich

The world of commercial finance and loans is more diverse than it has ever been.

Commercial finance is another term for business funding – commercial finance is lending made for commercial enterprises. It tends to be talked about in sharp contrast to personal finance. There are several kinds of commercial financing options available.

Originally, commercial finance came from banks, although nowadays there are a variety of alternative funding sources available. Commercial finance, in its simplest form, is provided as a commercial loan. You agree a repayment period, the cost of finance and a loan amount.

The loans themselves may be offered on a secured or unsecured basis. Generally secured loans are less expensive since the lender is taking a lower risk, however you have to have an asset you’re able to use as security.

An unsecured loan is useful for businesses that don’t have enough assets to get a secured loan. Commercial loans can come from a number of sources. Commercial loans are offered by mainstream banks, independent lenders and challenger banks, alongside peer-to-peer lending platforms.

Online Loan Calculator

May different types of loan calculators are currently available with each one designed to assist you with finding the best deal based on your individual borrowing requirements. Loan calculators are available for the following loan types:

  • Business Loans
  • Unsecured Loans
  • Personal Loans
  • Secured Loans
  • Home Loans

Always bear in mind that the above calculators are only designed to give you a brief insight as to your suitability of a particular loan type and the fees you can expect to pay. An online loan calculator will never be able to guarantee whether or not your application will be approved.

Secured Loans at Woolwich

During its time in business, the Woolwich was regarded as a reliable, trustworthy and customer-focused High Street bank. Specialising primarily in domestic banking services and loan products, secured loans at the Woolwich were typically limited to conventional loan products.

Today, the Woolwich no longer exists, having been taken over by Lloyds Bank several years ago. As a result, secured loans for existing mortgage customers are available with the following features and characteristics:

  • £10,000 as the minimum amount you can borrow
  • Borrow up to 85% of the total value of the property
  • The current mortgage must have been active for a minimum of six months
  • There must be no outstanding mortgage payments or arrears at the time
  • Credit checks and proof of income/financial status may be required
  • Interest rates and overall borrowing costs vary significantly

Lloyds Bank is also at the forefront of High Street business lending, offering an extensive range of business loans and funding solutions for new and existing businesses alike.

The Donkey Finance Difference

Since the days of the Woolwich, we’ve been providing a comprehensive catalogue of dynamic loan products for all purposes. What makes the difference with Donkey Finance? It’s simple – our complete commitment to flexibility and accessibility. In the absence of effective secured loans from the Woolwich, we offer affordable and accessible alternatives for borrowers at all levels.

Secured loans organised by Donkey Finance are available for absolutely any purpose. Working with a team of specialist lenders across the UK, we can organise the funds you need without delays or unnecessary complications. Exclusive deals with low rates of interest and minimal borrowing costs, tailored to meet your requirements and budget. Whatever you need and whenever you need it, your ideal secured loan is just a quick call away!

No Credit Checks Required

Best of all, we’ve always separated ourselves from major lenders like the Woolwich by focusing on what really matters. Unlike the average High Street lender, our partners typically impose no credit checks and request no proof of income whatsoever. Just as long as you can cover the cost of the loan with the required collateral, you’re almost guaranteed to qualify!

From home improvements to business expenses to urgent costs that cannot wait, a secured loan from Donkey Finance could be just the ticket. Use our convenient online loans calculator for an overview of what’s on offer, or reach out to a member of our customer support team for an obligation-free consultation.

Homeowner Loans from Woolwich

Homeowner loans are designed for people who have already taken out a mortgage. A homeowner loan may also be referred to as a secured loan, which means your property could be repossessed if you fail to make repayments on time. This diminishes the lenders risk, which results in preferential rates of interest. However, this presents a serious risk to borrowers who could have their homes repossessed if payments are not honoured.

The overall value of your loan will ultimately depend on the actual loan provider and the total amount that your assets are worth, but a homeowner loan can be anywhere in the region of £250k to £500k. This is because lenders feel more self-assured granting loans to those who are equipped to put forward security.

Owing to the huge amount of credit that's associated with these loans, repayments can extend up to 30 years. This borrowing term means that a borrower may benefit from lower rates of interest, but be aware that you will pay more in total over the long run.

You can often repay a homeowner loan before the agreed term has been reached, but this means that you will often be required to pay an extra charge for this.

Auction Finance at Woolwich

Once a popular and successful name on the UK High Street, the Woolwich ceased to exist over a decade ago. Taken over by Barclays in the year 2000, Woolwich accounts were migrated over to Barclays at the start of 2007.

Prior to this, Woolwich had offered an extensive range of personal and business banking services. Along with credit cards, savings accounts, personal loans and mortgages, the bank also offered investment banking and corporate banking services, along with wealth and investment management.

No specific auction finance services were available at Woolwich, which remains true since being taken over by Barclays. As Barclays itself doesn’t currently offer any auction finance products, former customers of Woolwich are unable to access these useful short-term loans.

Accessible and Affordable Auction Finance

There are instances where even the biggest names in the business – such as Barclays – simply can’t provide you with the financial support you need. A prime example of which is auction finance, which provides investors with funds to cover properties purchased at auction. Due to the time constraints that apply to auction sales, conventional loans and mortgages are not viable solutions.

Here at Donkey Finance, we look beyond the more obvious High Street names to find the best deals from leading specialists. If you’re looking for the best possible auction finance deal, why not work with an auction finance expert?

With our help, the funds you need will be ready and waiting by the time you need them. All with interest rates lower than those of any mainstream lender.

Full Market Comparison

Before going directly to Barclays or any other bank, let Donkey Finance compare the market on your behalf. We will carry out a comprehensive search, leaving no stone unturned as we compare dozens of dynamic lenders.

With so many auction finance specialists fighting for your business, we can guarantee an unbeatable deal. Use our online loan calculator to explore the options available, or contact the team at Donkey Finance to discuss your requirements in more detail. We’re standing by to offer our full support and the expert consultancy you need.

Career Development Loans from Woolwich

A good way to climb up the corporate ladder is by enhancing your CV with a postgraduate degree, but this can be very expensive; a postgraduate degree costs on average £11,000 per year. A Career Development Loan is designed to offer postgraduate students a helping hand whilst they are studying and often offers a much more attractive interest rate compared to other mass market loan products.

Professional Career Development Loans are where the Government pays the interest during the course. Whilst you’re studying, this means you are not amassing more and more debt. The reason a Career Development Loan is preferred than a bank loan, is because the Learning and Skills Council pays the interest for the duration of your studies. You can borrow as much as £10,000, although the amount you can borrow will ultimately be confined to 80% of your course fees, expenses and living costs.

About Woolwich

Financial Services

  • Bridging Loans
  • Commercial Loans
  • Mortgage Loan
  • Homeowner Loans
  • Career Development Loans

How To Apply

While many of the financial products and services provided by Woolwich can be applied for online, others require in-person meetings or telephone consultations. In any case, we can help you pinpoint and apply for the perfect product for your needs. Give a member of our customer support team a call today, or send us an email with an outline of your loan requirements.

Apply Now

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