FREQUENTLY ASKED QUESTIONS
We’ve listed below some of the more frequently asked questions concerning Financial Aid Limited loans. If you require further information on Bridging Loans or your particular question is not answered to your fullest satisfaction through our financial loans FAQ’s, please contact us immediately.
HAVE QUESTIONS FOR US? THEY MAY BE ANSWERED HERE
How much can I borrow as a financial loan?
Our lenders offer financial loans of all sizes – most are are between £20,000 to £20 million. They may also consider financial loans outside of this range – please contact us if you would care to discuss a specific situation.
How soon can I have the money?
We have completed financial loan applications within 24 hours of the initial enquiry. In most cases three to five working days is a sufficient time in which to complete Financial Aid Loans with one of our lenders.
What are the charges on Financial Aid Loans?
Our lenders typical interest rates range from 0.49% per month to 1.5% per month for bridging loans. The actual rate will depend upon your individual circumstances (for more details, please contact us)
What are the penalties if I pay back the financial loan earlier than agreed?
Financial Aid Limited’s lenders offers complete flexibility in their loan terms. You will only pay interest for the period you are borrowing the money.
What security is required for me to get a financial loan?
A first Legal Charge and Second Legal Charge on the property provided as security for your quick financial loan.
What is a Second Legal Charge for your financial loan?
If you own a property with an existing mortgage, Financial Aid Limited has lenders who may be able to offer a quick bridging loan whilst your current mortgage is in place. You will not have to repay your existing loan. This is known as Second Charge Lending.
What is the level of advance that you are prepared to offer for the financial loans?
Typically, Financial Aid Limited’s lenders are able to consider advancing up to 75% of the value of any acceptable security, to provide you with a financial loan.
What happens if my property is already mortgaged, how much more can I borrow?
The level of 75% is still available but your existing mortgage will have to be deducted from this amount for your financial loan.
What types of property are acceptable as security for financial loans?
Our lenders are able to accept residential and commercial property as security for a short-term loan.
What should I do if I have been refused by another Lender as my security is not conventional?
Financial Aid Limited is a “hands-on” broker and we work closely with our trusted lenders to ensure that all customers receive the best possible service. Contact us with your enquiry even if your property is “out of the norm” to get a quick financial loan.
How is Financial Aid Limited able to act so swiftly?
We avoid excessive and lengthy bureaucracy or “red tape”. We do not make a mountain out of a molehill! We deal directly with the decision makers for your financing and ensure that there are no delays in getting the loan arranged.
What's the catch?
There isn’t one! Financial Aid Limited is at the heart of the property market with experience in arranging bridging finance stretching over 20 years. We have extensive experience within the bridging & development loan sectors. We set the highest standards in courtesy, professional diligence and business ethics.