Bridging Loans Brokers
Using a bridging loans broker can be a valuable way to secure short term property finance. Whether you are buying a home before selling, or need additional funds for renovations, a bridge loan can help you to meet your funding requirements.
Do I need proof of income for a bridging loan?
A bridging finance broker can save you time and hassle. They will know which lenders are the best to approach, and will provide you with an array of options to suit your needs.
A bridging loan is a short-term loan based on the equity in your property. It can be used to make a down payment on a new home, or as a means of finance for a business. You may be able to choose fixed monthly payments or interest-only repayments. You will also have to pay fees and exit charges.
In recent years, banks and building societies have become less willing to lend. Fortunately, a bridging loans broker can find you the right finance at the most competitive rates. In addition, they can make the process faster than if you went direct to the lender.
A bridging loans broker can help you to get the most out of your existing mortgage, and can also help you to get the best deal on a new one. The bridging financing sector is a niche category within finance, and is growing rapidly. It’s important to get expert advice, and to be aware of the consequences of your decisions.
Unlike conventional financing, a bridge loan is secured against your current property, and you are protected by your home’s value. However, you are not allowed to tap all your equity. You will only be able to use up to 75% of the value of your home.