Mortgage Concepts Associates Ltd. Registered office, 66 Spring Cross, New Ash Green, Longfield, Kent DA3 8QQ. Registered in England & Wales no 05694058. Mortgage Concepts Associates Limited is an appointed representative of Valid Path Limited which is authorised and regulated by the Financial Services Authority.
A bridging loan is a temporary short term loan taken out usually to solve a cash shortfall when buying property. Usually residential bridging loans are used when somebody purchases property before they sell their own, or need funds quickly to purchase investment property or properties at auction and do not have the time to put adequate funding in place
A bridging loan can be used for any purpose. The most common uses for bridging loans are:
- To enable the purchase of one property before the completion on the sale of another.
- The purchase of investment property
- Buying properties at auction
- The purchase of buy-to-let property
- To enable the purchase of a property abroad.
- Temporary funding to enable the purchase of a property for renovation, to provide the funds for the completion of repairs until a long-term mortgage can be arranged.
- The purchase of land
- Dream Holidays
- Weddings
Bridging loans present a greater risk to the lender so the product is usually more expensive than normal mortgages or loans. Because of this, bridging loans should only be considered as a viable option if you are likely to be able to pay it in a short term usually up to a maximum of 12 months
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Bridging Finance
Auction Finance
Bridging Loans
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