What Can A Bridging Finance Broker Do For You?
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If you want a bridging loan, finding a bridging finance broker can help you, and save you a lot of time and money by offering you solutions that you might not have considered before. It can be confusing looking for a good broker, so here are some useful tips to help you know what to look for; this is what a good mortgage broker should be doing for you.
Look At Your Specific Circumstances
A generic bridging loan might not be suitable for everyone, but a good bridging finance broker will be able to take your specific, possibly unique, circumstances into consideration and find a loan that works for you, rather than one that is taken ‘off the shelf’.
If you are self-employed or need other types of flexibility, you will need a lender who can deal with that. Therefore, you also need a broker who is able to find these lenders. If they only have access to the standard high street mortgage and loan companies, you may find that you are not offered a bridging loan.
Look At All The Pros and Cons
A good broker will not just look at the cost of the bridging loan; they will also take other aspects into consideration including how quickly the application can be processed and any arrangement fees. They will give you all of this information so that you can make an informed decision assuming you have a number of lenders to choose from.
Chase For You
If your application is delayed for any reason, a good bridging finance brokers will be able to chase on your behalf, hurrying up the application and ensuring you get your money when you need it.
Residential & Commercial Bridging
Bridging Finance 4U are master brokers and packagers for all the leading bridging lenders and private funders in the UK.
Who We Are and What We Do
Bridging Finance Brokers in London, UK is usually used as an interim financing measure until permanent or ‘next stage’ financing is obtained. For example, the sale of an existing residential property may take longer than the required purchase deadline of a new property, bridging finance could therefore be used to bridge the period of time until your existing property is sold, at which point you may have the funds to pay off the bridging loan in full with the property sale proceeds or to use as a deposit to complete on a standard mortgage.
We can also offer finance for both Republic of Ireland and Northern Ireland. In some cases finance can be also obtained for prime locations in Europe for UK nationals whether living in the UK or overseas as an expat.
Why Choose Us?
Standard terms vary from lender to lender, but in general bridging finance is usually available for a period of between 1 and 24 months. It is sometimes possible to agree an extension beyond 24 months in some circumstances, but generally speaking bridging loans are meant as a short term financing measure, lasting months not a few years.
Instead of going to every lender on the market, just come to us, we do all the hard work for you. We have relationships with all the major lenders and private funders and speak directly to decision makers. Funds can be normally released between 3 and 10 days subject to legals.
We can usually obtain terms immediately and formal offers subject to valuation within 2 hours. If you are looking for speed and service then you have found the right company. Rates from 0.65% pcm but see our rates page for more info. We can also now lend on the value of Freeholds.
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When you need a bridging loan, it is important to contact a specialised, professional bridging finance broker London – a broker can help you to obtain the lending that you might not otherwise be able to achieve, and they will be there to offer plenty of advice and guidance from the start to the end of the process.
If you want to borrow using a bridging loan, what are the criteria’s?
Firstly, the loan must be for more than £50,000. Technically there is no upper limit, but repayment capabilities will need to be taken into account no matter what lending is agreed, and borrowing more than you need is never a good idea.
Next, the term for repayment needs to be between one day and 36 months. Remember, the point of a bridging loan is that it is a short term loan to literally bridge a gap between funding, most often when buying a property. Therefore, the repayment terms are necessarily going to be shorter than those for a standard loan would be.
A bridging loan is going to require security; these are large sums of money that need to be paid back over short periods of time, and therefore a lender is unlikely to agree with any loan without security in place. In most cases, this will be property.
A bridging loan can be used for purchasing all kinds of properties from commercial to residential and including bungalows, flats, houses, and even land and parking spaces.
The state of the property in question does not matter. In fact, many people use a bridging loan to purchase a property that needs renovating, giving them the chance to get it in a fit state to live in or sell on. A bridging loan is not the same as a mortgage, so the quality of the property is not important.
You must be over the age of 18 to apply for a bridging loan.
As you can see, there are some strict criteria in place which is why speaking to a bridging finance broker London should always be the first thing you do. You can discover in advance how likely it is that you will be able to obtain the money and get advice at the same time.
Bridging Finance Broker
BridgingFinance4U is a prominent bridging finance broker in the UK that specialises in offering a great selection of instant and bespoke bridging finance solutions to everyone looking to raise quick funds. We aim to help everybody find a bridging finance that works just right. We have created tailored bridging finance opportunities that match your needs, whether you are looking to purchase a new property, develop property from the ground up or repair your existing property, BridgingFinance4U has got your back.
If you find yourself in a situation where you want to buy a new home, but your old property isn’t sold yet, or you want to make the payment of the property you won at auction, then you will need help of bridge finance to bridge the gap. A bridging finance broker in London will provide the required funds so you can complete your new home purchase before selling the existing one.
Bridging finance is a short-term solution that is particularly used to fill the gap before the sale of your property is confirmed. Just because your money has been blocked for a few weeks and you cannot afford to miss the property investment opportunity or buying your dream home, property development finance broker is your answer to make sure you are able to get the finance you need.
As a leading bridging finance mortgage broker in the UK, we have access to the most reliable lending partners, which helps in acquiring bridging loans at the lowest possible fees. BridgingFinance4U is able to arrange short-term bridging finance from as low as £25,000 to as high as £50 million. We offer residential and commercial bridging finance, bridging finance for land and property development bridging finance for 1 to 12 months, and up to 24 in some cases where required and has a clear exit.
Before you opt for bridging finance, it is suggested that you talk to an expert mortgage broker who will help you understand what type of loan you should choose and at what rate of interest. At BridgingFinance4U, we don’t only offer great financial products, but we also have a team of professional financial advisors who are happy to provide any guidance you need. We understand that now two situations are same, and therefore, we are ready to go an extra mile to understand your situation and deliver a bespoke solution. Since we have associated with a number of lenders across the nation, our advisors will find a suitable lender based on your circumstances, so you can get the right deal at reasonable rate of interest.
The role of bridging finance brokers has become very crucial in the recent times of financial crisis. While other mortgage and traditional loans refuse or take months to approve your application, bridging finance has seen a steep curve in the rate of approvals. Bridging finance has made it very easy to get funds and has become a great alternative to conventional loans. Contact us today and we are eager to assist you with our years of knowledge and experience in finding the most suitable financial solution.