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 BRIDGING FINANCE

Although expensive and often considered to be a last resort, Bridging Finance gives you the opportunity to complete your purchase or refinancing exercise whilst you wait to sell your present property or put the finishing touches to your refinancing package.  Bridging can used to finance the purchase of a property at auction or to fund the purchase of a property overseas for example, as well as the more traditional purpose of ‘chain-breaking’.

Interest can either be rolled up or serviced monthly.  Rates vary from one provider to another but are usually between 1% and 1.25% per month. Terms can be of a fixed nature (normally 6 to 12 months) or can be ‘open’ with no definitive end date.

It is normally very quick to set up Bridging Finance (from 1 to 5 days) and it can mean the difference between getting the property of your dreams or losing the opportunity completely.   

If you think Bridging Finance is the solution to your problems or would like more information about the costs involved in the setting up and servicing of Bridging Finance please phone us free on 0800 542 7720 or click here to complete our general enquiry form.

There will be a fee for mortgage advice of £150 plus an additional fee of £1495 for non conforming mortgages or £395 for conforming mortgages payable on completion.

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE OR ANY OTHER DEBT SECURED ON IT.