Bridging loans – Let first4commercial compare the market for you! Over 70+ lenders.
Bridging loans or bridging finance can be used in a variety of ways aside from the usual chain-break scenarios. Bridging loans have fast become one of the quickest and most reliable forms of finance for those who require speed or flexibility. Speed is the most common reason for using bridging finance and this is when it comes into its own. We assist lots of clients when they are purchasing property at auction or have a tight deadline to meet and a conventional mortgage will simply not be ready in time.
Down-sizing is also a very common reason for clients needing to use bridging loans. Age is always a factor with mainstream mortgage lenders and so this is where bridging loans really fill the void. We have lenders who do have an age restriction and have lent to customers who are in their late nineties. This is because they look at the property and the equity within it when assessing applications, the client is secondary in this process. With the help of rolled up interest payments, so you do not need to make a monthly payment, affordability for any loan is also taken out of the equation. This is why a lot of our older customers, who wish to down-size their property but do not want to wait for their current property to sell, use this option.
There has been a lot of demand for bridging loans from clients looking to extend/renegotiate short lease properties. We are able to assist with the types of applications even when a short lease property is in probate for example. The usual, refurbishment pending sale, below-market value transactions, divorce settlement and debt repayments are also available and remain a mainstay of the bridging market.
first4commercial are able to access over 70+ lenders with over 220+ products available we aim to find not only the cheapest rates but the best overall package of bridging finance available in the market today. We have years of experience in this sector and remain at the forefront with our transparent Heads of Terms illustrations which provide you with all the information about the best available products before you decide if you want to go ahead. The enquiry stage is completed FREE of charge on your behalf so you have access to our expertise and knowledge without needing to pay any upfront fees.
Our fee structure is clear and concise and remains the same if you are borrowing £5,000 or £1m+. We charge an administration fee of £195.00 if you decide to proceed with our illustration and we charge a 1% broker fee (min £999) which is payable once an offer has been issued, but not normally collected until completion or cessation of the case.
We can obtain, first, second and even third charge bridging loans and with the help of our sister company Central Mortgages (Essex) Ltd we can assist customers with FCA regulated bridging loans as well. With rates from 0.65% and loans amounts available from £5k to amounts of over £5m+ we are your first and last port of call when comparing bridging loans or bridging finance.
Bridging loans can be taken from 1 month up to 36 months and typically up to a maximum of 80% of the value of your property (on a first charge basis). The higher loan to values are typically only for properties in prime London and South East postcode areas but we can advise you accordingly as required.
Compare the bridging market with us today and let us do all the hard work for you.
For more information please contact us today.
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A: 5 Alyssum Walk, Billericay Essex CM12 0SS