Bridging finance advice
We are experienced in dealing with various aspects of bridging finance, whether you’re looking to purchase a property at auction, beginning a property development project or if you’re looking long term then a property investment loan could be what you’re looking for. If you have found your dream home but you’ve not found a buyer for your current home then a bridging loan can allow you to purchase your new residential property quickly, meaning you don’t have to miss out on the perfect home for you and your family. Alternatively if you’re looking to downsize your property and again you don’t have a buyer in place then bridging finance gives you the flexibility you require.
Also known as ‘short term’ finance is ideal for the quick turnaround.
Bridging is used to raise finance much quicker than most other conventional options available, with the ability to avoid any drawn out processing and the option of avoiding lenders strict affordability models.
Bridging can be used for many a purpose, to name a few:
With most auctions you will need to complete the purchase within a 28 day turnaround, bridging will enable you to secure the property whilst you look into other longer term options. We can discuss these options with you.
If you’re looking to develop a property then a bridge could be the right option for you. With different varieties of bridging available, you can purchase the security and improve it dramatically whilst only ever using the equity within the property itself, meaning you could make a profit to fund your next project.
A property can be purchased using a bridge when conventional lenders would deem the property ‘un-mortgagable’ – allowing you to refurbish the property to a standard that lenders deem acceptable, to either sell for a profit, let the property for a long term investment or consider the option of moving into the property and residing there, this is something we can discuss with you and let you know of the best options available.
Distressed bridging is by no means the most common form of bridging however can be just as required if not more so that the other variants available. Distressed bridging is used when, for one reason or another, an applicant’s personal circumstances have changed and they are now in a position where they may be repossessed.
A bridge can allow for the applicant to sell on their own terms so that they don’t lose out completely on the financial aspect of the sale.
This is simply what it says. You are looking to move to a smaller property, and retain some of the equity into your savings but you not have a buyer for you property yet, and have had an offer accepted on your new property. Bridging finance can help you secure your new purchase quickly – typically within 2/3 weeks and help buy you the time to sell your current residence in which you will yours the proceeds of the sale to repay the bridge. If you feel we can help, please get in touch.
The Financial Conduct Authority does not regulate some forms of Buy to Let, Tax Planning, Wills, Bridging Finance, Secured Loans, Trusts, Commercial & Overseas Mortgages or Conveyancing.
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