Bridge Loan to buy new HouseA bridging loan for the purchase of a new house
Home bridge credits (also known as bridge credits or interim financing) are a form of short-term financing that can be used to purchase real estate when other forms of credit are not available. As a rule, you can take out a bridge loan for up to 12 month, although in some cases a longer-term loan is also possible.
Usually, when you take out a bridge loan, you have to specify an Exit Policy that explains exactly how you will pay back the loan. If you buy a house, this usually means that you replace the interim financing with a mortgages or sell another piece of real estate that you own and use the money to pay back the bridge.
Bridge credits can usually be arranger much quicker than a home loan, often within a few business day, which makes them perfect where quickness is critical. With our bridge loan calculator you have a quick and easy way to find the cash you need at an accessible price so you can continue purchasing your new home.
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Financing by auction | Auction bridging loans, real estate purchase at auction
Bridge credits are often used as a preferential financing for auctions. A further advantage of using interim financing is that it can be used when a real estate is not considered eligible for a hypothec. Buying these is much simpler and faster to fund by using a bridge loan and not by another form of financing.
Keep in mind that real estate is often auctioned for a specific purpose. It can be a demand on the velocity or more often because the characteristic has some kind of error. Interim financing arrangement at auctions is a short-term option, and once the interim financing requirements have been met, the interim loan is either paid back through the sale of the real estate, the re-financing of the real estate to name a mortage, or the interim loan is disbursed with available hard-currency.
Before participating in the sale, it is recommended to obtain an evaluation of the real estate and the financing. If the 10% down payment is not available, it can be saved on another real estate if necessary. This is the reason why interim financing is available or not. Interim financing is not suitable for all circumstances, but we always make sure that every loan we broker is suitable for you and your needs.