What's the difference between 1st & 2nd charge bridging loans?
A charge on a property simply contains the details of any burdens affecting that property.
- A 1st charge bridge is the principal loan on a property, and it takes precedence over all other charges.
- A 2nd charge loan, meanwhile, is secured against a property that already has a loan or mortgage outstanding.
Technically there’s no limit to the number of charges you could have on a property, but it’s typically not more than three.
Watch our video and you'll quickly and easily understand the difference between 1st and 2nd charge bridging loans.
If you're considering a bridging loan or you have any questions about what they can be used for and whether they suit your requirements and situation, get in touch with us today.
We're experienced financial experts who arrange short-term bridging loans for property owners, securing you the best deal from over 200 bridging loan providers, including private investors and family offices.
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bridging loan requirements.
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