Bridging rates reducing

Amid all the speculation that we have an interest rate rise coming our way we are happy to report our major bridging lender has just reduced its rates. The rates on offer are now the lowest we have seen for the last 9 years of funding. This is obviously great news for the borrower and shows great faith from the lender as bridging finance keeps going from strength to strength.

When to use Bridging finance?

Bridging loans can be used for a variety of reasons and the list seems to be getting longer by the day. The most popular uses are currently buy-to-let, property development and buying at an auction.

There has been a growing trend among borrowers to use bridging loans due to high street and private banks taking longer and longer to process loans. A great number of borrowers these days see this type of funding as simple, easy and very fast and this helps them achieve longer term objectives.

One thing to always remember if you are considering this type of funding is to have a clear exit strategy as all lenders will need to see this. This for example could be a mainstream or buy-to-let mortgage or you simply may just sell the property on for a profit.

Bridging finance always used to be viewed as a very expensive alternative to mainstream lending. Although it is more expensive it most certainly does have its good points and can help achieve better deals in a frantic market place. If you look at the so called “pay day lenders” and the incredible rates they charge bridging finance is very good value.

Like too know if bridging is for you?

If you have a proposed purchase on the horizon and would like to talk over the options of financing the deal then call us. We are here to help and pride ourselves on attention to detail.