We’re really pleased to announce the new launch of our Bridging Finance advice service.
Bridging finance is a short-term loan which can provide you with access to funds, perhaps to take advantage of an opportunity at a time when other accessible cash is unavailable.
There are many instances where Bridging Finance could be a suitable solution. For example:
- You wish to buy a property before having sold your own.
- You’re selling a property and your chain falls through nearing completion, but you need accessible funds in order to buy a new property.
- You wish to buy a property at auction at short notice.
- You wish to buy a property that may not be in good condition and requires renovation work to make it habitable.
What type of bridging loan is right for you?
As with traditional mortgages, bridging loan rates can be either fixed or variable. A fixed rate will provide you with certainty regarding the amount of interest you are charged, where as the interest on a variable rate can increase or decrease depending on market factors such as Bank of England base rate movements.
You can decide whether interest will be serviced (paid each month by you) or rolled up and added to your balance so that it is then repayable at the maturity of your loan.
Bridging loans can be regulated by the Financial Conduct Authority or unregulated. Regulated loans are used for properties that you are living in or in which you intend to live. They are secured by first charges against the property.
Chase de Vere Bridging Loan services
Our Bridging Loan service is an extension of our existing Mortgage advice service and is managed by our experienced adviser team.
Unlike many other brokers, we won’t charge you any advice fees. We receive a payment from the finance provider once your funds have been released.
Please feel free to contact our team if you would like to discuss your mortgage or bridging loan requirements, and we will do everything that we can to help you. Or complete the below appointment form.
Content is correct at the time of writing and is intended for general information only and should not be construed as advice