Meeting the short-term funding gap

Life often throws up the unexpected, and we all need a helping hand now and again. Whether you are buying a property, facing a large, unanticipated bill or wish to take advantage of an investment opportunity, a short-term funding option such as a bridging loan could help. This option allows you to secure the funds you require to bridge the gap between a debt arising and your funds being available to meet that.

Is a Bridging loan right for you?

Bridging finance is often needed by landlords or individuals hoping to move into the property development or investment markets. It is designed to assist in completing the purchase of a property, for instance if that property is up for auction and the buyer has no funds immediately available. It can also help home buyers whose own houses have yet to sell but who need access to funds to complete the purchase of their new property or developers who require money for renovation projects.

Finding the best lending solution for you

In the wake of the financial crisis, high street banks and other traditional lenders are taking far longer to process loan applications for purposes such as buying property. This can lead to missed opportunities if no other source of finance is available. A mortgage broker Dorset based who offers bridging finance services will typically process such a loan application far more quickly, allowing clients to take advantage of an opportunity when it arises.

However, this type of loan can be more expensive than conventional lending, so specialist advice is required. This ensures firstly that any bridging finance is secured on the best possible terms for the borrower. Secondly, it ensures that the borrower has a firm exit strategy (such as securing a mainstream or buy-to-let mortgage) to repay the loan and reduce interest payments.

Bridging Funding Advice From The Mortgage Place

From our Dorset based offices, The Mortgage Place works with clients throughout the county and surrounding areas.  If you require a bridging loan or short-term finance in Dorset or the surrounding areas, contact us to speak with a specialist mortgage broker for prompt advice and attractive rates of interest.