Bridging Finance is short-term property finance, usually to purchase properties at auction or to ‘bridge’ the gap to purchase your new property whilst waiting for your current property to be sold. Just like traditional mortgages, the lender will place a ‘charge’ on your property which is a legal agreement that ensures the lender will be repaid first from any proceeds via. a remortgage, sale, or repossession.
There are often cases where a client wishes to purchase a property but has not currently been able to sell their own property to raise funds. In this scenario a client can opt to take out a bridging loan for a short period; the bridge will fund the onward purchase and will be paid off with the proceeds of the original property. The loan is often classed as ‘closed’ where the sum must be paid back within a specified period such as 12 months.
Furthermore, bridging loans are a common form of funding for purchasing properties at an auction where traditional methods of funding are not viable because of factors like; property condition, intentions with the property, legal status, or required completion date.
Arranging a suitable bridging loan requires experience and well-maintained knowledge; we maintain good relationships with our lenders to ensure we are kept up to date with all the changes happening in the market. Because of the complex nature of bridging finance, we do in-depth research on our clients, their motives, and the most suitable product for them to ensure that their needs are met adequately. As part of the process, we will always establish a viable exit strategy for our clients to ensure they can pay off the bridge without any hassle.
Triton Private Finance Limited is registered in England and Wales with the company number 13548123. Registered Address: 128 City Road, London, EC1V 2NX.
Triton Private Finance Limited is an Appointed Representative of PRIMIS Mortgage Network which is a trading name of Personal Touch Financial Services Limited. Personal Touch Financial Services Limited is authorised and regulated by the Financial Conduct Authority.
The guidance and/or advice contained in this website is subject to the UK regulatory regime and is therefore restricted to consumers based in the UK. The Financial Conduct Authority does not regulate some forms of buy to let mortgages.
This firm usually charges a fee for mortgage advice. The amount of the fee will depend upon your circumstances and will be discussed and agreed with you at the earliest opportunity.
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.
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