What is Property Bridging Finance
Property bridging finance is a type of loan that allows the borrower to bridge the gap between the time it takes for their property to be sold and the date they receive their first mortgage payment. The property is usually used as collateral for this loan, which means that if you default on your repayments, your lender can use your home as security to get back any money that’s owed.
How does bridging finance work?
Bridging finance is a common method for financing real estate projects. This method involves borrowing money from a bank at an interest rate of three percent, and then paying back the loan with your property taxes. You can also get a second mortgage on your house to pay off the first one if you want to.
What does bridging finance cost?
One of the most common questions first-time buyers ask is how much it will cost to buy a home. The answer can be complicated, but fortunately there are affordable ways for you to get a down payment together.
How do I apply for Bridging Finance?
To apply for bridging finance, you can go to the online enquiry form, please make sure that you all necessary documents with your application, and they may ask you some questions over the phone before approving your application.
How long does bridging finance take?
When you're in the middle of a big purchase, it can be difficult to know exactly how long it will take for your money to become available. For example, if you're buying a new car or appliance and don't want to wait until you have the funds to pay for them in full, you may work out an installment payment plan with the seller.
Get in touch with our highly experienced bridging finance team today to discuss your bridging finance requirements, covering all of the UK.
Bridging Rates - Bridging Finance rates available from 0.4% per month.