Bridging Finance for Buy-to-Lets increases
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 very high volumes of enquiries for this type of financing.
This week alone we have taken instruction on two cases both buy-to-let deals. The clients need to complete rapidly as they do not want to lose the deals. Property in the Kent area is in short supply especially at the lower end of the market.
Landlords increasing their portfolios are using bridging finance more and more as they see it as a way to secure properties quickly and sometimes at a reduced price. One of our regular buy-to-let clients said “I have been bridging to increase my portfolio now for over 2 years”. “I can recommend this method as it gives me speed of completion and far more flexibility plus it’s not that expensive”. High praise indeed, perhaps bridging could assist you with your next project as this type of funding has so many different uses.
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
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 wants and with speed.
On the way to a record
The bridging industry is expected to set new records for business conducted by the end of this financial year. Brokers from around the country are reporting month on month increased business and there seems to be no sign of this changing.
Intermediaries are expecting even lower rates on bridging loans as the year progresses, one London based broker said “business is currently solid and we are expecting interest rates to fall again by the end of the year”.
Bridging loans provide vital support for borrowers from all walks of life and have a vast array of uses. This form of funding is so flexible unlike the traditional mortgage or loan which has so many rules and regulations attached. With an ever increasing economic climate the support of bridging finance is crucial to sustain its growth.
Bridging has without doubt learnt a lot and matured in status over the course of the last recession. Now the economy is growing at a rapid rate again all forms of alternative lending are steaming ahead with bridging leading the way.
Our head of operations here at Fastest Bridging commented “business is very good at present and this is assisted by good rates on offer and record turn-around times”. “Lenders are willing to look at deals they would not of even considered two years ago making the competition for business intense”. “I have high expectations we will hit a new record level for lending this year which follows the general trend within the industry”.
When to consider bridging finance?
A bridging loan can be used as an alternative to traditional funding and has a vast array of uses. These uses include property investment, buy-to-lets, and development of an existing property to name just a few. If you have a project in mind and need clarification of how a bridging loan could help give us a call and we will be happy to discuss your needs. This type of funding offers speed of completion and up to 100% loan to value in some cases, on average a “clean” case will complete within 10 days and sometimes even quicker.
Like too know more?
Here at fastest bridging we pride ourselves on service and we would be happy to discuss your future plans. Give one of our experienced advisers a call they will be pleased to assist.
Bridging increasing in value
The demand for housing in the UK is growing month on month especially property in good condition. Estate agents up and down the country are reporting a shortage of good quality lower end market properties for sale. One agent in the Birmingham area said “If a good quality reasonably price house comes onto the market these days it usually sells within a week”. “The agents in this area just cannot get enough of this type of property on their books”. “If a client wants the property it is advisable to act as quickly as possible or they will lose it”.
This is most certainly an area that bridging comes into its own as speed of completion can often help secure the deal. With property being so much in demand offering the seller a quick deal often gives you the advantage. We at Fastest Bridging often have clients using a bridge deal to secure a new buy-to-let property as speedy completion can reduce the asking price as well.
The cost of bridging is reducing all the time and there are some really good rates currently on offer. It could be a good move to check out what is available before viewing your next or new property. This will give you a good bargaining tool to negotiate with should you find the right house. It is important to remember a “clean” bridging case can be completed within 10 days with all parties pulling together.
Options
If you are anticipating buying a property in the near future it would be advisable to check what quick financing options are available to you. Many of our regular clients secure in principle the bridging deal and then we set to work organising the longer term finance package.
Like too know more?
We at Fastest Bridging pride ourselves on service and we would be happy to discuss your up and coming plans. Give one of our experts a call and we will be happy to assist.