residential bridging loans are short term, interest-only loans generally used to help you meet a pressing financial need when dealing in the property market. Applications are often decided on the value of the property and your exit strategy, more than your ability to meet payments.
A bridge loan may let you buy a new house before selling your old one. Bridge loans have high interest rates, require 20% equity and work best in fast-moving markets.
We can provide Regulated Bridging Finance options for customers who want to use their residential property as security to raise funds. Our Non-Regulated.
Bridging loans offer short-term finance for buying a property before your longer- term funding comes through. Find out about terms, rates and risks.
Bridge Loans. Also known as a swing loan, gap financing, or interim financing, a bridge loan is typically good for a six month period, but can extend up to 12 months. Most bridge loans carry an interest rate roughly 2% above the average fixed-rate product and come with equally high closing costs.
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Residential bridge loan lenders for non-standard property. Given how vast the bridging finance market is, it is possible to secure a loan for virtually any property type, including buildings that traditional mortgage lenders would consider ‘unmortgageable’ – perhaps because it has no electricity or is a shell of a building.
Bridge Loans To Purchase A House How bridge loans work. Most bridge loan lenders won’t go above an 80% loan-to-value ratio, or LTV, says David Alden, president and COO of First Savings Mortgage in McLean, Virginia. So you’ll need to have at least 20% equity in your current home for a bridge loan to be an option.
If you need short term finance a bridging loan could fill the gap. Compare lenders that offer the lowest interest rate for the loan amount and term you need. Your home may be repossessed if you do not keep up repayments on your mortgage or any other debt secured on it. Get a Bridging Loan
If you are looking for fast, flexible, bespoke and high leverage bridging loans, talk to the Catalyst team.. property as security as long as we understand how you will repay our loan.. Everyday Bridging: Residential / Semi-commercial Property .
Whether you’re downsizing, renovating or even building a new home a short term bridging loan can be the best way to achieve your property goals. A residential bridging loan allows you to unlock the value within your existing property to purchase the home of your dreams. To discuss your plans, call our Bridging Finance Team on 01858 412610.