Avoid house repossession with bridging finance

Bridging loans

Although bridging finance is one of the oldest forms of borrowing in the UK today, it is widely misconceived as to how it works.

Initially bridging loans where introduced to bridge the gap in property sales where as the vendor had sold the property but hadn't completed on the sale on their new home. The bridge was to free up equity so that a rental fee could be paid to stay in the property for a short period of time.

Times have changed and in the modern era, bridging loans are now used for a wide variety of reasons, however they have stay secured short term finance.

Using a bridging loan to stop repossession is one avenue that people need to explore. If you have a short term cash flow problem and you are confident that with the space of one year, you are able to clear the full loan amount, then it needs some serious consideration on your part.

As principle lenders we can be flexible on terms. Typical interest rate is as low as 1.75%. Loan values are between £27,000.00 and £3,000,000.00. The advance itself is secured against a property.

You only pay interest repayments each month until you are in a position to clear the whole loan. This makes it an ideal way of borrowing short term. For instance, if you require £100,000.00 and you can repay the advance within 30 days, typically you will only pay £1750.00 for the privilege of borrowing such a vast sum.

Compare that to the long term secured loans offered by banks and building societies.

The criteria:

• Property is required as security
• Minimum loan value is £27,000.00
• Maximum is £3,000,000.00
• Flexible repayment to suit you between 1 and 12 months
• Never owe more than you borrow

Call us on 0208 905 7777 or use our online enquiry form.