Bridging loans can be a good option if you need short-term property finance quickly and easily. They can be used for residential, Buy-to-let, investment, development or commercial property transactions for periods from 1 to 36 months. The amount you can borrow ranges from £50,000 up to £20m and the loan is secured against your property.
As the property market can move very fast with many buyers chasing prime properties, more and more buyers are using bridging loans to complete property purchases quickly to make sure they can secure their dream homes. They are typically used when there's a gap between the sale and completion dates in a chain. They can be useful if you're planning to own a property for a short time, perhaps to renovate and sell on.
Say you've fallen in love with a house and you want to proceed but you haven't sold you old home, then a bridging loan can help you make your purchase. They are also used by people who want to buy a property at auction and need to have the money available to complete the deal on the day.
Business clients often need bridging finance to help them complete on commercial property deals, to purchase land, to improve or renovate an investment property pending resale or refinancing, or for development purposes.
We know that when clients are looking for a bridging loan that time is critical - they want help finding the right lender and getting the right finance deal as quickly as possible. The Mortgage Direct team are on hand to talk through your requirements and ensure you get the right deal for your financial circumstances.
They'll explain the process, talk you through the fees, charges and interest payable, and be on hand to answer any queries you might have. They can also help you put in place longer-term mortgage finance if you need it.
What's more, you can start the process right now by following the link to the Application page.APPLY NOW
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London SE3 0TN