Can I get a Bridging Loan to buy a HouseCould I get a bridging loan to buy a house?
Bridging credits are expected to be perfect for those circumstances where rapid financing is required but an alternate financing resource is available.
For example, a purchaser who wants to buy a real estate at auctions, who only has 28 working day to settle the rest of the sale, would be a great interim financing option. Bridging Finance can be prohibitively costly without an exit policy, so it is rewarding to explore other alternatives unless you have a clear way out of the loan.
It would be easier to resell an inhabited home and then take out a home loan for your new home without the need for an intermediate loan. A seasoned mortgages agent will be able to help you find the best possible solutions for your situation. Please contact us today at 0800 980 8777 for further information on the procurement of interim financing.
Is it possible to buy with a bridging loan at an auctions?
Apparently, more buyers are turning to public sale auctions to buy their property, which means an increased likelihood that property will be bought below value, thus making a promise of property for purchase to let to lessors from which many have benefited. Without a doubt an exciting event, because the purchase at an auctions is also fraught with insecurity.
As a rule, you are obliged to settle for your real estate within 28 working hours, which can often be tricky, especially without a bridging loan, to close the financing shortfall while the principal is being used. In addition, our recent relationship with a specialised bridging loan provider enables us to support the "No Valuation Bridging Loan", which provides our customers with pre-sale security.
BridgingLoan No Evaluation is specifically developed to fit in with the fast-paced auction ing environment where no evaluation of the real estate is required before a loan is made. Loan conditions are as follows. Maximum loan amount is £1.5 million. Our broker partners provide support at all times, and the use of our No Vibration Bridging loan gives our customers an advantage over others.
Bridge credits are an important instrument in the acquisition of real estate through Auctioneers. Increasingly popular real estate auctioning, which has caused some to experience a booming economy, has created the need for customers to have the best bridging credit at their disposal and to achieve the largest and most favorable positions possible before they cross the bidding house sill.
If you would like to learn more about our bridging service regarding auction or other products, please do not hesistate to contact us.