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Fast Business Bridging loans can be a good option for a short term loan. They are generally used to bridge the gap between house purchases.… If you are buying a property to make a profit, bridging could certainly be a good choice too.
However, remember to take in in the cost of funds in to your profit figures.
AS A SPECIALIST MORTGAGE BROKER, WE ARE ABLE TO HELP YOU RAISE A BEST BRIDGING LOAN FINANCING ON RESIDENTIAL AND COMMERCIAL PROPERTY TRANSACTIONS IN THE UNITED KINGDOMGet started
Most Bridging loan costs will include the arrangement fee which will usually amount to a percentage of the loan. Some lenders may drop to the rate if you take out a large sum, and others may waiver the fee.
Bridging loans can be a good option for a short term loan. They are generally used to bridge the gap between house purchases. … If you are buying a property to make a profit, bridging could certainly be a good choice too however remember to take in in the cost of funds in to your profit figures.
Typically the completion time of a standard bridging loan can range from 4 to 6 weeks. This could be much quicker if the property being purchased is an investment, this could be done as quick as 3 to 5 days. It will depend on the circumstance.
The alternative is for you or someone else to raise the money you need on your own property. This all depends on your own situation it could be possible to do this by raising a standard mortgage, with bridging finance or without early repayment charges. This might depend on if you have adequate income to support the loan.
We are able to help you and that you will benefit from speaking to one of our independent mortgage advisers. Please call and we will then be able to help you find the right mortgage for your circumstances.
A bridging loan works by providing funding upfront to complete on a project or a property purchase before any another credit funding can be secured against the same. The term ‘bridging’ is used, as effectively you are bridging the time frame between the two lines of credit. There are two types of bridging finance loans:
If you purchased at an auction, then you may be in a position where you need the availability of funding ASAP in order to complete on your purchase. Most traditional funding methods will nearly always take a lot longer to arrange. In this situation you could arrange a bridging loan for the short term, complete your purchase.
You could also use a bridging loan to purchase a property that needs to be developed. Depending on the condition of the property, a lender may not be willing to lend on it. You could get a bridging loan to purchase the property in its current state, renovate it to a standard that is acceptable to a lender and then apply for mainstream funding in order to repay the bridging finance loan.