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Want A Residential Bridging Loan ?
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The page will look at residential
bridging loans and what the normal uses that this kinds
of finance is used for. The main use is to cover a
shortfalls when buying one residential property and the
sale of another normally in the housing or real estate
market. This kind of credit is completed very fast in
order to take advantage of the current situation.
Payment rate and terms can normally be taken between 1
month and 3 years.
A typical case where you would need a residential
bridging loan is where you are about to complete on
buying a house but at the last minute the buyer of your
existing house pulls out. To still buy your new home you
could get a residential bridging loan to give the
required funds to purchase the new housing property.
Other residential uses can include funding for a
defective property that a traditional mortgage lender wouldn't
lend for. The bridging loan would fund for the purchase
and renovation and once this was carried out you could
then take a mortgage to make payment to clear the
debt.
Bridging
Finance Residential Loans
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| Who's Suited |
- Purchasing
property at auction.
- Property refurbishment or conversion.
- Chain breaking mortgages.
- Homeowners who have been or about to be repossessed.
- Funds required within days not months.
- Short-term finance for business purposes.
- Commercial property purchase and refinance. |
| Features |
- 100% LTV
Available.
-Market leading rates from 0.75%.
-1st charge or second charge equity release. |
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