Bridging Finance London
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Bridging finance London is something that everyone can make use of, including first time buyers. Interest rates on mortgages are at record lows, meaning that first time buyers will feel more confident in applying for a mortgage – they will be happier they can afford a mortgage, something which is a new concept to them because they will not have had one before.
Unfortunately, of course, low interest rates also mean that savings aren’t growing quickly, which might have an impact on deposits. However, with so many different schemes available to ensure that deposits aren’t so much of an issue (including the government’s Help To Buy programme, and the ability to gift deposits to children, for example).
House prices are another reason that first time buyers might be able to benefit from esp during Brexit. Those who are putting their properties on the market want to sell quickly before Brexit takes place, just in case there is a market crash. Therefore, they are happier to accept lower offers than they might usually do, and they might even put their houses on the market for less than it is worth (although not a huge amount less) in order to attract a buyer.
There are some mortgage providers that can offer 100 percent mortgages, and therefore no deposits are needed. These are, for some, the only way that they will get on the housing ladder, and although it does mean that it will take longer and cost more to clear their mortgage, for many it is worth it to own their own home.
So what about bridging finance London? In some cases, first time buyers may not want to buy a home to live in it. They might want to buy to let instead. Bridging loans can be ideal for landlords who buy a cheap property at auction and then need time to do it up before they can get a traditional mortgage in order to then rent it out.
Bridging Loan Rates
Our bridging loan rates start from:0.65% pcm up to 60% ltv (1st Charge)
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 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.
(Tailors property services)