Bridge Loan for home BuyingLoan to bridge the gap for owner-occupied homes Purchase
This is a fexible bridge credit line that enables the acquisition of a new building in the amount of -1.5 million euros without the disposal of the current one.
Customers wanted to buy a new home for 1.5 million even though they had not bought their current one. Privat Finance quickly sought a retail banking institution that could provide the necessary resources through a fexible "overdraft facility" protected against the existence of unsecured home ownership. Customer payed 15,000 handling charge (1% of £1.5 million credit line).
Available rates vary depending on your circumstance.
Buyers' Guideline for Financing Auctions: Bridge Credits
How much is a bridge loan? Put in simple terms, a bridge loan is a fast, short-term credit facility geared to enabling a rapid reallocation of resources so that the financing is there when you need it. Imagine a bridge loan as a helpful way to keep things on course so you don't miss an item in the auctions.
Like the name implies, a bridge loan provides an excellent bridge or security net until either long-term financing can be assured or the value of the loan is disbursed through the disposal of property, such as the purchase of a house you already own. Their lenders will compute how much they can give you in a realistic way, on the basis of the most important information you need to provide:
After the credit period has been bridged, the re-financing of the sale ends with a conventional hypothec. Your bridge loan conditions vary depending on your creditor. For example, some loan types offer repayment on a month-by-month basis, while others ask you to repay a flat-rate amount at the end of the loan period - bridge credits are usually paid back within 12 month.
During the last 20 years the real estate market has grown strongly. From small gatherings, auctioning has become a buying option for home owners and home owners. We see a wide range of groups joining us in an auction, from skilled lessors to first-time purchasers to non-professional spenders; it really is a way for everyone.
One of the beauties of a bridge loan is its versatility. A lot of people who are expanding their portfolio choose bridge credits because they are not only the most appropriate options for lottery bidders, but also release your cash so you can divide your investments across multiple properties. If you have a sound exits policy, most creditors will be pleased to offer a fast bridge loan.
We have therefore joined forces with three bridge loan experts and the SPF Retail Client broker, who can agree on an exits policy. From the first to the last trading date, you will get a customized loan for your use. Means can be made available within a weeks, so anticipate a fast and agile processing.
Please call us on 01273 201989 or talk to our staff about real estate financing during an inspection.