Short Term Bridging Loans & Development Finance Solutions
If you are in need of a short-term funding solution, bridging and development loans are invaluable for enabling a property purchase to proceed that would otherwise not be possible.
Originally designed to help people complete the purchase of a property before they have sold their existing home, this short term funding option can ‘bridge’ the gap to give more flexibility. However bridging loans are now often used to purchase properties that could not be purchased with a standard mortgage. You may wish to consider bridging finance when wanting to purchase and ‘do-up’ a property before re-financing or selling on. It is also very useful when speed is essential such as purchasing at auction or being let down last minute with other finance options.
We can also ‘bridge a bridge’ where a client has come to the end of their existing bridging term but still needs the finance thus avoiding heavy penalties and substantially increased rates.
Here at Mortgage Style we work in conjunction with some specialist bridging and development lenders who offer excellent terms. Although rates are often higher than standard finance terms they are a lot lower than they used to be especially when utilising our exclusive access to market leading rates enabling us to provide bridging finance as an affordable option.
Taking as little as 3 days to arrange this is often the ideal solution for many clients.
The term offered by bridge loan lenders varies but is typically between 6 – 18 months. However most lenders allow the bridging to be redeemed after just one month without penalty.
Unlike some bridging loan brokers we have access to both regulated and non-regulated bridging, the regulated bridging is required where the finance is secured on a residential property or is intended to become the clients residential property.
With direct access to the funders themselves and private investors we can negotiate bespoke terms for clients and can get cases agreed where a mainstream lender may not be prepared to lend.
Bridging and Development Finance
Development finance became extremely hard to come by for a period of time but has become a lot more accessible, we can access market leading rates from across the market and can once again secure enhanced lending criteria, for example higher loan to values available or options for clients with limited experience.
Mortgage Style has considerable experience in the sector having helped property developers in Bristol and the surrounding areas to arrange development finance for a range of projects. Whether an experienced builder looking for funding for a large residential development or a small self build project we can find lending solutions to meet your needs.
THE FINANCIAL CONDUCT AUTHORITY DOES NOT REGULATE SOME FORMS OF BRIDGING FINANCE.
More Information and Help
Whether a short term bridging loan or a more complex development finance solution, call the team at Mortgage Style for help and information on 01179 070 818. In addition, we have produced a brief guide to Bridging and Finance to give you a helping hand when considering this option.