TSB Bridging Loans
Who is TSB and what do they do?
TSB is a retail and commercial bank located in the UK. TSB is a subsidiary of Sabadell Group and currently possesses 220 branches across England, Scotland and Wales.
Do TSB offer bridging loans?
As of now, TSB do not offer customers short term bridging finance. The bank’s lending is restricted to long term mortgages and remortgages. Their offers of personal loans are available only from £1,000 to £25,000 or £3,000 to £50,000 for existing TSB current account holders.
As bridging loans fall under specialist lending, it can be problematic to achieve one through a large bank like TSB.
What do TSB interest rates look like on bridging finance?
TSB do not currently offer bridging finance; thus, interest rates are not applicable here.
What do I need to get a bridging loan with TSB?
Bridging finance works in a different way to other forms of loans as lenders are not usually concerned with a client’s credit record. The customer’s current property is provided as security for the loan and the bank will want to know how you plan to repay the loan.
Despite this, TSB do not currently offer bridging finance to its customers.
How do I apply, and how easy is the process?
Applying for bridging finance is usually a simple affair, unfortunately TSB is not available for this service.
How long does the application process take and when do I get the money?
The length of time to apply for a bridging loan can vary depending on the individual’s circumstances. If you have a clear exit strategy and are using the finance to bridge the gap between selling your current property and purchasing a new one, the process can be a matter of days.
If your situation is more complex, the process make take a few weeks.
What is the Bridging Loan Directory?
We’re an impartial party that solely exists to help you find the best bridging loan lender for you. We’re here to guide all our users through every aspect of their bridging loan application journey. Our content resources section is packed full of guides so you can learn more about everything from interest rates to refurbishment finance.