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BRIDGING LOANS

At Your Mortgage Expert, we are experts in helping home buyers to access Bridging Loans or Bridging Finance as it is sometimes known.

 

What is a Bridging Loan?

From time to time, Home Movers can find that they need to access a short-term loan to complete on the purchase of their property. This is where Bridging Loans can be useful because they are designed to help people complete on a property purchase that might otherwise not be possible due to a gap in funding.

They can also be attractive because the timescale to arrange a bridging loan is much faster than a standard mortgage, which is useful for those who need a quick funding solution.

Typically, people might need a Bridging loan in the following circumstances:

  • The property being purchased needs to complete before the property being sold can complete. There is therefore a gap in funding.
  • A property is being purchased at auction with a 28-day completion deadline.
  • There is an urgent need for a short-term loan to help refurbish a property before sale.
  • Wealthy or asset-rich borrowers who want straightforward short-term lending on residential properties.

If any of these circumstances sounds like you, then Your Mortgage Expert can help.

How Your Mortgage Expert can help

Your Mortgage Expert understands how Bridging Loans work and in what circumstances they can be applicable. We know which lenders offer Bridging Finance and what the various rates available are.

Since they answer a need for short-term funding, as you might expect, they can be more expensive and higher risk than other types of mortgage loan.

It is therefore a prudent decision to speak to a specialist Mortgage Broker like Your Mortgage Expert.

We will talk you through all the options and help you to understand whether an alternative type of finance might be more appropriate in your circumstances. We will also explain any fees that might be applicable and any other financial implications.

 

THE FINANCIAL CONDUCT AUTHORITY DOES NOT REGULATE MOST FORMS OF BRIDGING FINANCE.

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About Your Mortgage Expert

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At Your Mortgage Expert, we offer independent mortgage advice. We provide a personal and knowledgeable service. You can trust us to be on your side and to find the most appropriate deal for you. We are based in Salisbury but can help you no matter where you live in the UK.

 

 

 

A MORTGAGE IS A LOAN SECURED AGAINST YOUR HOME. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE OR ANY OTHER DEBT SECURED ON IT.

YOU MAY HAVE TO PAY AN EARLY REPAYMENT CHARGE TO YOUR EXISTING LENDER IF YOU REMORTGAGE.