From first-time homebuyers through to seasoned buy-to-let investors, borrowers of all shapes have very similar expectations of the lending market; they want to pinpoint the best deals and access funds with a minimum of hassle.
For many, time is most definitely of the essence. Running alongside the desire to find the best long-term mortgage arrangement, there’s often an additional, more urgent concern: the need to “bridge” a temporary funding gap, to ensure that deals stay on track and opportunities are realised.
This is where Bridging Loans or Bridging Finance can come to your aid. Flexible, versatile and quick to put into place, with a comprehensive range of bridging loan options at your fingertips, you are much better equipped to solve the many short-term financial problems that can affect you.
Loans can be secured on residential and commercial properties as well as on land. Subject to LTV and the product type, the size of the loan can range dramatically and the typical duration of the arrangement is usually 12 months or less, with your exit strategy being crucial.
There are two key features of a bridging loan. The first is the speed of borrowing (a bridging loan can deliver funds in days). The second relates to the refreshing broad criteria. Individuals, joint owners and applicants based abroad can all apply. What’s more, if the plan for redeeming the loan is focused on resale (as opposed to refinancing), a chequered credit history doesn’t have to result in rejection. Monopoly Finance considers each application on its merits.
Since the beginning of Monopoly Finance, we have grown into one of the UK’s leading short-term finance lenders. If you’re interested in learning more about how a bridging loan could help you, or about the Monopoly Finance approach to bridging loans, contact us today on 0207 101 3333.