London Bridging Finance
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London bridging finance is flexible and incredibly useful, offering those who would otherwise not be able to buy a property the chance to do so. Although there are certain restrictions, and although those who borrow in this way must have a plan to pay the money back, especially as a bridging loan is only for the short term, with these precautions in place, it is an ideal way to get a foot on the property ladder for thousands of people.
Landlords can also make use of bridging loans. When a landlord purchases a property, they want to buy something that will yield them a good return. This means that they will want to buy as cheaply as possible in an area where rents are relatively high, or at least higher than a mortgage would be.
How can they do this? The answer may be to go to auction. Buying a property at auction will usually mean a bargain price in terms of what is being paid, but this could be due to the building not being liveable, or in a bad state of repair so a standard mortgage provider won’t lend money for it. Using a bridging loan to purchase a property like this will give the landlord the time needed to refurbish it and bring it to a state where a high street lender will be confident enough to award a mortgage. Plus, the money saved by buying a cheaper property will give the landlord more funds to do the work, so everything will happen much faster and this should mean that the loan is paid off more quickly.
London bridging finance can mean the difference between being able to purchase a property or not, and can be the only way for some properties to be bought at all. Therefore, it is certainly something for landlords, developers, and other buyers to consider, especially if they thought they would not be able to buy a property in the first place. By working with a broker, you can obtain the right deal for you, and get the right advice too.
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)