Bridging has a sound platform
This year has seen bridging finance grow beyond all recognition and the recently released figures prove this emphatically. Here at Fastest Bridging we can confirm this year has seen us break all records in our two most popular areas of funding namely buy-to-let and commercial.
Bridging has come a very long way since five years ago and has a very sound platform to go forward into 2016. Lenders are bending over backwards to ensure tight deadlines are met and most importantly fees and interest rates are falling. Our director of operations said “all the signs are good for the long term future and we are most certainly ready to meet the challenges ahead”. “Bridging is now without any doubt a very serious player in the lending market”.
When speed is important
A housing crisis is forcing up house prices by a staggering £27 per day, this figure stood at just £9.50 8 years ago. The average home increased in value by £9500 to £186,000 in the year to October that’s 5.6% according to the Land Registry data. These are amazing figures and it is unlikely to slow down in the near future as demand for property increases all the time. We are seeing more people than ever turning to bridging finance to secure the property they want especially in the buy-to-let market. One recent customer of ours commented “I have just found the ideal property and secured a good price but I need to complete quickly.” “By offering to complete within two weeks I got £9000 off of the asking price which will more than pay to bridge the deal”.
Can we help you?
If you feel bridging may be able to assist your next purchase please call one of our experienced advisers who will be pleased to help.
A housing crisis is pushing up property prices by £27 a day.
The average home increased in value by £9,856 to £186,350 in the year to October – that’s 5.6% – according to Land Registry data.
The jump –prices also rose0.4% between September and October – has been fuelled by a shortage of both homes for sale and new properties being built.
Figures showed 74,596 homes changed hands in August, down a hefty 15% on 2014 and the lowest number for that month since 2012.
Meanwhile, Nationwide referred to research showing that a lack of homes for sale had pushed supply down to its lowest level since the 1970s.
Massive growth year for bridging finance
The bridging loan industry will set new records for lending by the turn of the year and the progress looks set to continue into 2016. Brokers all over the country are reporting record figures with the mood being very buoyant indeed.
The industry really looks set to push forward again next year with the promise of lower fees and interest rates. Lenders are very keen to keep the progress going and they are making offers to clients that have never been seen before. These are exciting times ahead for the industry.
One Midlands based broker said “business is solid with lenders helping to complete deals faster than ever before”. “In all my time in this sector of lending I have never seen so much interest in this type of business”. “I can only see us going forward next year with confidence”.
Bridging loans provide vital support to borrowers from all walks of life plus they have a large range of uses. This way of funding a deal is so flexible, unlike traditional mortgages or loans which have so many regulations attached to them.
Bridging finance has without any doubt grown in stature over the last two years and is building a very sound and reliable framework for the long term future.
Could this help you?
Bridging finance can be used as an alternative to traditional funding methods and has a vast array of uses. Unlike traditional lending bridging has far less rules and a deal can complete in a matter of days in some cases. In the past bridging was normally only used when a tight timescale had to be achieved but that has most certainly all changed now.
This type of funding has so many different uses and is so flexible more and more people are exploring its benefits.
If you would like to know more or discuss any aspects of bridging finance please do call one of our fully experienced advisers.
Business in the bridging loan sector has been increasing steadily over the last few months. More and more people are looking at this type of funding to secure their deals due to the simplicity and speed of completion.
Here at Fastest Bridging we pride ourselves on the attention to detail and the ability to meet deadlines and last week was no exception.
Ten days ago we were contacted by one of our regular clients who wished to purchase a large industrial building for his company’s expansion plans. He has had his eye on a particular property for some time now and it came onto the market suddenly, an approach was made with an offer. The offer was accepted with contractual deadlines that had to be met to secure the property at the agreed price.
Our client had contacted us with the details of the proposed purchase prior to the deal being completed so we were ready to act if all was concluded.
We are very pleased to report the deal was completed in 6 working days which was 4 days ahead of schedule. Our client commented “thanks for your professional approach to this case and it was a pleasure working with you”. “The renovation work is due to start next week and we hope to be in and trading early next year”.
This is a very good example of how bridging finance can assist purchases with strict deadlines. The investor without doubt played his part in getting the deal done as all queries were answered almost by return.
Can we help you?
If you are contemplating a purchase or need more information how bridging finance could help you please call one of our fully trained advisers. We are here to help and look forward to receiving your call.