Bridging Loans and Finance For Home Buyers | Rite Mortgages

Bridging Loans

If you’re buying a property at auction, if you are planning to refurbish a property to increase it’s value and refinance or sell or you simply need to bridge the gap between buying and selling a Bridging Loan may be your best option.

Bridging Loans were traditionally used to buy your new home before you have been able to sell your existing home. Now the most common use for bridging finance is buying at auction, to refurbish property, or raising short term finance quickly.

Available on commercial or residential property,bridging loans can be expensive and are seen as a fast way of raising finance on property and not a long term borrowing solution.

Our mortgage advisors will show you whether or not a bridging loan is the right option to take, what you need to do to get one, and take care of the required documentation and negotiations on your behalf.

Bear in mind that these loans can be a risky choice if you haven’t planned the outcome of your move properly. We recommend you speak to one of our mortgage advisors before considering taking these loans out, as there could be a significant financial impact if not managed correctly. If we think you might be at any kind of financial risk as a result, we’ll suggest looking into other options instead.

How Can Your Mortgage Advisors Help Me?

We can spot the potential risks involved with a bridging loan, keeping you secure.

We can spot the potential risks involved with a bridging loan, keeping you secure.

We work with trusted lenders to get the best interest rates available.

We offer completely transparent fees at all times.

We have 25 years of experience in finding the best bridging loan offers available.

We’ll help you sell your old property, or get a let to buy mortgage if you’re still struggling.

We provide a free, no-obligation review of your current situation.

We’re directly Authorised by the FCA (Financial Conduct Authority).

Do I Need a Bridging Loan?

We’d always recommend you take your time and get a second opinion when considering a bridging loan. This option can either be a great short-term financial help, or a huge burden if you choose the wrong lender.

Although bridging loans can be taken out a lot faster than the vast majority of loans from high street banks, a rushed decision can result in more money spent in the long run, which can completely ruin the housing plans you’ve made. Instead, taking out a let to buy mortgage might be a better choice for the time being. You’ll be able to rent out your current home while you wait for it to be sold.


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