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SECURED LOANS
Loans secured against your property could help you raise finance quickly.
BRIDGING LOANS
A Bridging loan might be the solution to help your property transaction go through.
As the name suggests, a secured loan is secured against your property. You can generally raise finance for any purpose, and the loan can be processed quicker than a mortgage.
The loan would be arranged as a second charge on your property, with the first charge being your mortgage.This means that you must have a reasonable amount of equity to qualify for a secured loan. These loans are an ideal way of raising finance if you are tied in to your mortgage and still subject to an Early Repayment Charge.
You can leave your current mortgage in place and keep the new loan completely separate. We can source the lowest interest rates available from a large panel of lenders, and therefore there is no need to shop around, as we do the shopping around to get the lowest rate.
A bridging loan can tide you over in the short term when you are looking to complete the purchase of your new home while waiting to sell your old property.
It is a predetermined short term loan that is commonly for a 12 month period or less, allowing you to complete the purchase of your home quicker than would have been initially possible, where it could have failed as a result of the purchase or selling chain being disrupted.
Bridging loans are unregulated but provide a useful and speedy facility for finance in certain circumstances. A bridging loan is a specialist arrangement and requires a high degree of expertise. Use an expert intermediary at Consult Mortgages to help you arrange one.
Consult Mortgages is an Appointed Representative of Mortgage Intelligence Ltd. which is authorised and regulated by the Financial Services Authority, under number 473697, in respect of mortgage and insurance mediation activities only.
Think carefully before securing other debts against your home. Your home may be repossessed if you do not keep up repayments on your mortgage.
The initial mortgage consultation is FREE of charge, please make contact with us to discuss your needs, there is no obligation to proceed. For mortgages which complete we typically charge a fee of £395 plus we would retain the commission from the lender. The exact amount of fees payable will depend on your needs and circumstances, which will be discussed and agreed with you before an application is made. Alternatively, you can choose to pay by the fee only option which is typically 1% of the loan amount and any commission from the lender would be rebated to you. See our Fair Fees Policy.
The guidance and/or advice contained within this website is subject to the UK regulatory regime and is therefore primarily targeted at consumers based in the UK
South West Mortgage Advice
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