Bridging Loans
& bridging finance
Bridging loans are loans which are intended
as a form of bridging finance for those who are caught in the position
of moving from one property to another and have found themselves financially
stuck because there has been a delay in securing the money from a house
sale.
Bridging Loans are available for a whole range of finance
requirements and can be on the basis of a 1st , 2nd or even 3rd charge
equity release, for any purpose.
Covering all areas of the UK, Northern Ireland, and Scotland, we are
able to arrange competitive Bridging Facilities through our network
of lenders. Whether it be a licensed premises, office block, land or
residential properties, our lenders will look at all types of security.
Bridging Finance is commonly used for the following reasons:
• Purchasing property at auction
• Property refurbishment or conversion
• Chain-breaking mortgage
• Purchasing property where the surveyor recommends a retention
• To help homeowners who have been or are about to be repossessed
• To stop bankruptcy
• When funds are required within days rather than weeks
APPLY FOR A BRIDGING LOAN
With our varied panel of Bridging Finance Lenders we can
arrange competitive quotes for our clients and offer a wide range of
products to suit all lending requirements. Bridging Finance couldn’t
be easier; all you need to do is fill in the simple application form
online or you can call Advanced Finance direct and speak to an experienced
underwriter who can deal with your request directly, then advanced finance
will do the rest for you.
We will keep you updated with any progress on the case all the way through
to completion to give you maximum piece of mind that we are doing all
we can to get you the best bridging loan possible.
Typically, bridging loans start at around the twenty seven thousand
pound mark, up to and sometimes exceeding six and half million. Property
considered for security includes residential property like terraced
houses, semi detach, detached and apartments, plus houses that are rented
out to tenants, commercial properties like retails outlets and office
buildings, industrial units like farms and factories and in some cases
lenders will also consider foreign or off shore holiday homes or investment
properties as a guarantee for your secured loan.
Use our enquiry form to have your application sent to a minimum of ten
direct lenders to see who offers what. Simply fill it out and we make
initial contact for you at no cost to yourself.
There are two main types of bridging loan available to a borrower and
these consist of open bridging loans and closed bridging loans. An open
bridging loan is a loan for those who are waiting for the completion
of a property sale whereas closed bridging loans are loans which are
specifically aimed at those who have already exchanged their contracts
but are experiencing some form difficulty in terms of actually moving.
A bridging loan will typically be taken out over a period of
time ranging from a minimum of one year to two or three years maximum
and the applicant can choose to either borrow and pay back the whole
amount or opt for interest only repayments. Also, because bridging loans
are only intended for the short term the interest rates are normally
very competitive and they are much more easily approved than other loan
types such as long term mortgages or unsecured loans.
Finding a good deal on a bridging loan can be hard work for a lot of
people because there are so many lenders offering such a wide variation
in interest rates and repayment options and this is where we can help
you save both time and money. Our friendly advisors are experts when
it comes to bridging loans and they can find you the right deal for
your particular circumstances in a surprisingly short amount of time.
All it takes is a quick phone call and you could be well on your way
to getting the best possible deal in less than twenty-four hours.
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