Bridging Loan Uses on the increase
The market for bridging finance continues to grow in 2015 at a rapid rate. Clients are seeking a speedy solution to a financial situation. We here at fastest bridging are seeing more obscure cases being completed on a daily basis.
High Street banks have no interest in this type of funding and we are even getting referrals from the banks to see if we can assist their clients.
Bridging finance has a vast range of uses and seems to be expanding all the time. The majority of clients are unaware of what the uses can be for, plus the speed the cash can be available.
Some uses of bridging finance
Site Acquisition Planning or Development
Very popular with us, funds can be made available within 72 hours. This ensures valuable opportunities are not missed, also buys the client time to get longer term financing in place.
Inheritance tax payments
This is a problem that can arise when a client is left with a property to pay the liability due on an estate. So rather than sell the property bridging can be used until a financial solution can be reached. This again is buying time until more suitable method of payment can be sourced.
Tax liabilities
Bridging is popular when a tax demand is made for a sum that cannot be raised in the timescale given. The loan can be secured against the business premises or other suitable assets again buying valuable time.
Need help?
If you have a financial situation and need clarity of what can be done call us now and we will be very happy to talk things over.
Bridging Finance for Buy-to-Lets growing
2015 has seen a marked increase in the use of bridging finance for investors in the buy-to-let market. Here at Fastest Bridging our advisers are reporting a high volume of enquiries for this type of financing.
We only advise the use of bridging finance when traditional methods fail, but clients are expressing a wish to complete as quickly as possible due to a shrinking market. The number of properties for sale is reducing all the time and investors want speed so they do not miss out on the property they have secured.
Landlords increasing their portfolios are using bridging finance more and more as they see it as a way to secure properties at a reduced price. Also they see it as a stop gap, buying them time to negotiate a far better mortgage deal as rates are reducing all the time.
When to take advantage of bridging?
- Transactions with very tight deadlines
- Auction purchases
- Property in poor condition
- Speed is an absolute priority
- Buying a property undervalue
Bridging finance isn’t the cheapest, however, if it secures you an advantageous deal it can seem very cheap in the long run.
What to do next?
If you are new or an existing bridging client and would like to know more please do call one of our expert advisers. We at Fastest Bridging pride ourselves on delivering what the client needs.
Bridging loans completed even faster
This year has seen a significant decrease in completion time for bridging loans. Lenders have seen their market share grow at a rapid rate as more clients need to complete their financing quicker than the traditional method.
This is very good news for borrowers as delays can cost money. Here at Fastest Bridging we have seen a 15% reduction in completion time in 2015 and lenders are looking at ways to reduce time even more.
The market for bridging finance continues to grow as more and more borrowers want faster finance to secure better prices on property deals.
Application process
From the initial phone call we will establish the type of loan that you will require by asking some basic questions, after this we will give you an accurate and honest opinion of completion time and costs involved.
The lender will require an application form completed, we will give you guidance on how to complete this accurately which will speed up the process. The lender will then instruct a valuation to be completed on the property or properties. We would hope in a straightforward case to have an offer ready within 48 hours of the application.
We will keep you updated of your loan progress on a regular basis so you are kept completely in the picture at all times.
Seeking advice?
Our advisers are fully trained and skilled in providing you with a professional fast service to meet all your financing needs. Please do call us to discuss your requirements and we will do our very best to assist you.