Understanding your personal circumstances is vital in finding the right equity release plan for you.
Published: October 9, 2017
Bridging Loan – Getting you from one step to another
What are bridging loans?
Bridging finance is usually a type of short-term business loan. It’s best thought of as a temporary loan which gets you from A to B, until you can either clear the loan in full or secure a more permanent form of finance. That’s where the “bridge” idea comes in – finance to get you from one step to another.
A Bridging Loan can be used for so many purposes so call us on 01702 619 221 to see if you need to take it to the bridge.
Who are bridging loans aimed at?
Bridging loans are generally aimed at landlords and amateur property developers, including those purchasing at auction where a mortgage is needed quickly.
They may also be offered to wealthy or asset-rich borrowers who want straightforward lending on residential properties.
What can I use bridging loan for?
Bridging loans are often used for the purchase and renovation of property — it’s a form of property development finance. They can be both commercial and residential, and the works can be a new property development or just adding a bathroom to a flat.
Open Bridging Loan
- You have not exchanged
- You have found your next purchase
- You need to secure the new property to ensure it is not lost
- You have no fixed date for the payback of the loan
- You need to call us on 01702 619 221 to secure your loan
Closed Bridging Loan
- You have exchanged
- You have found your next purchase
- You need to secure the new property to ensure it is not lost
- You have a fixed end date for payback of the loan the sale of your house
- You need to call us on 01702 619 221 to secure your loan
Ask the Experts – Best Bridging Deals, Same Day Decision, Bridging Loans From 0.59% PCM
We can find you the right bridging loan for you and with rates starting from 0.59% pcm we can find you some of the cheapest deals around. Because we are an independent whole of market broker we are not tied to a specific lender which means we can find you the deal that suits your needs and budget. Amber Mortgage Solutions invite you to contact us on 01702 619 221. Alternatively, you are welcome to use our convenient enquiry form and we will respond to your questions promptly.
