Bridging loansBridging loans are simple to understand. You can only borrow over a certain amount, typically around the twenty seven thousand pound mark and there is no upper limit as long as you have enough built up in a property or properties. It is short term funding and there is no early repayment penalty, usually the maximum term of the loan is twelve months. Interest only is repaid every month. You never actually pay of any of the bridge until you want to clear the full amount in one hit, hence no early repayment penalties. Property bridging loans can be used as auction finance as a quick fix until your long term financing is in place, whether that be a mortgage, remortgage or sale of another property. |
You can get a decision in principal from many actual private lenders over the phone or by email from a mobile Internet device, and whilst this site is promoting bridging to be used as auction finance, it can actually be used for any purpose. Just make sure you can pay back the full amount quickly as the longer you owe the full amount, the more interest repayments you pay.
Anybody that has property or land with adequate equity in it can apply online for bridging loans and secured short term finance, even if your credit rating has been hurt over the last couple of years whilst the banking crisis, credit crunch and recession has been in effect. Most lenders tend to look at your short term history and whether you have ample equity built up in the house, home or building you would like to use as security on your bridging finance. So whether you are looking at purchase a commercial property at auction, and are in need of a commercial bridging loan, or if you are buying a new home and new short term residential bridging until your mortgage or remortgage is in place, bridging loans used as auction finance maybe just what you need.
Auction property finance
We have agreed contracts with a handful of the leading lenders within the UK that offer bridging loans that can be used at auction as auction property finance and can be set up quickly with a decision even quicker. By completing the application form on this site, your enquiry will go to all of the lenders. No brokers are used, so that you can get a firm and balanced idea or offers from multiple sources without having to spend valuable time searching them out on the Internet. You are under no obligation to take up any of the investors lending short term advances secured against existing property. If you feel, after applying, that it is not for you, you simply decline the offer. We hope you find a package that is suitable to your needs in the shape of auction property finance.