What is a Residential Bridge LoanWhich is a residential bridge loan?
As soon as your present home is sold or your mortgages are arranged, you have the means to repay the interim loan.
A bridge loan will save your valuable amount of your personal money - so you can make sure that your new investments are worthwhile. Housing bridge loans give you a genuine option when you need it. Bridge loan requests are generally processed within a few workingdays.... That means that a time-critical buy can be carried out easily and stress-free.
Lending ranges from £500,000 to £5,000,000,000 with a loan value of up to 75%. So how does a home loan work? In contrast to other forms of real estate financing, a bridge loan is marvelously simple: you take out a short-term loan that will cover your new real estate acquisition while you are waiting for your principal financing flow to become available.
If, for example, you sell your home but the purchaser is not able to close it for a longer term, you can use the bridge loan to make your new buy while waiting for your capital expenditure sales to close. Or if you have a hypothecary in process but need to move now, a bridge loan can be taken out against your belongings while your hypothecary request is being worked on.
The interest rate for residential bridge credits starts at just 0.69% per annum, and repayments are always clearly negotiated with you so you know exactly what to look forward to and when. As soon as your funds are freed, either from your recent real estate sale or from your mortgage request being approved, you are ahead of the curve. What's more, you'll be able to make the most of the funds you have available.
We work together to find a bridge loan that meets your needs.