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Member since 03/18/2018
Name: Top 10 Finance Bridging Loans
Location: Rex House, 4-12 Regent Street, London, SW1Y 4PE.
Website: https://www.loans-co.uk/bridging-loans
The UK’s Best Bridging Loans\r\n\r\n\r\nWhen you use our services at www.loans-co.uk, you gain access to many of the UK’s best bridging loans. \r\n\r\nWe are located at Rex House, 4-12 Regent Street in London, UK, and we have over 15 years of experience in helping our clients in obtaining the best bridging loans for their needs. \r\n\r\nTypically, a bridging loan is a one-off type of loan. As such, if you don’t get a good rate of interest it’s likely going to cost you unnecessarily. \r\n\r\nNevertheless, when you come to us at Top 10 Finance, you’ll get the best advice and you only ever get the real facts. We are an authorised bridging loan dealer and we are regulated by the FCA. \r\n\r\n\r\nWhat is a Bridging Loan? \r\n\r\nA bridging loan is a form of short-term loan which is secured against property. The name comes from the fact that it can be used as a way to bridge a gap in order to make a quick purchase of property prior to arranging a mortgage, or it can be used to gain access to cash or release funds that is/are already invested in a property that you currently own.\r\n\r\nIf the latter scenario is true, you can use the cash that becomes available for anything you like.\r\n\r\n\r\nWho Can Get a Bridging Loan?\r\n\r\nYou can make an application for a bridging loan if you are an individual, a limited company, or a limited liability partnership.\r\n\r\n\r\nWhat Can Bridging Loans Be Used for? \r\n\r\nNormally, a bridging loan is utilised as a way to obtain capital over the shorter term – a period of time no longer than 18 months. For a loan of up to 24 months, you can apply for a six-month extension. For HMO and buy-to-let investors, loans of up to three years are available. \r\n\r\nPrivate individuals or property developers often use bridging loans when they can seal a better deal by completing the development of a particular property rapidly. Or, they can use a bridging loan as a way to finance an investment into a new property while their cash is still tied up in a current property that they are still working on or has yet to be sold. \r\n\r\nBridging loans are often used to meet a cash shortfall by way of getting equity from a property. \r\n\r\nThose that invest in property at auctions may require short-term financing given that payment is normally required within a 28-day period from time of purchase.\r\n\r\nPeople that are involved in a property transaction chain can benefit from a bridging loan if a sale within the chain falls through. The money from the bridging loan can be used to refinance a property in the chain, and as such, contracts can then be successfully exchanged. \r\n\r\nProperties sold at auction are oftentimes uninhabitable. In this case, the traditional mortgage is unavailable. A bridging loan can be used to fund the work in order to ensure that the property is made habitable. After which, the property can be sold or an application for a traditional mortgage can successfully be made.