Don't get caught short when financing your residential or commercial property. A property bridging loan may be the solution where there are time constraints. This will ensure a smooth transition pending the sale of another property or the start of a longer term property financing solution.
Bridging loans may be considered either closed or open-ended. Closed bridging loans have very clear exit strategies. For example, a clear exit strategy would be an exchange of contracts on a particular property sale or perhaps an offer for long-term funding which would allow the bridging finance to be paid off. In contrast, open-ended bridging is often seen as a higher risk by the lender due to not having a clearly defined exit strategy.
Timing is often critical for this type of loan.
Although not exactly like other mortgages, bridging arrangements can be made to fulfill a great many useful roles when considered as part of your overall financial picture. Fast bridging loans often play critical roles in interim financing when buying or selling properties, rearranging business and personal financial arrangements, buying properties sold at auction and many other scenarios.
Although these types of loans are generally more expensive than normal long term financing - with an interest rate of typically between 1% - 1.5% per month - due to the fact that most borrowers needing this kind of loan have an urgent situation, which is often critical time, then the cost of bridging finance is a much less important factor when compared to other more pressing aspects of the deal.
DIY Funding have over 20 years experience in arranging bridging financing for businesses, individuals and companies. Our contacts - which include all the major UK lenders that specialise in these types of loans - can be directly connected with you the borrower. This direct access to key decision makers within the different lenders means that valuable time is not lost and the funding can be arranged quickly.
When time is of the essence, DIY Funding can help. Our services are reliable and inexpensive; we charge no brokerage fees, only the cost of the DIY Funding Pack we put together that is tailored to our individual clients' needs. DIY Funding can provide the expertise, the experience and the contacts to fund your needs quickly and well within budget. Visit www.diyfunding.co.uk today for more details and see how we can help with your funding needs.
