Buying an apartment
Not everyone has the benefit of being able to rely on parents or family when it comes to getting a footing on the UK property market. We can help bridge that initial gap with short term loans.
Buying a house
Newly built property and houses are over priced, especially when combined with a 'special' 1st time buyer funding plan. We can bridge the initial gap with a short term loan until you get a mortgage.
Buying commercial property
Getting a foot hold in the modern day business world is hard as it is. However, trying to secure cost effecitve funding to buy a commercial or investment property is harder. We can help.
Buying you very first home or property
So, if you are making your in the world and have found that securing financing to buy your own place is a little bit more than illusive, simply because lenders are asking for deposits that are just out of your reach, we may be able to help with a system that involves using a short term unsecured or secured loan to buy the house, then mortgaging against the property to pay off the bridging loan.
The only draw back is you need to have a good borrowing history as property funding in this form is not viable for people that have a poor repayment history on any type of credit you may have had in the past.
Get in contact, under no obligation of accepting any loan offer we we are able to make. We are experts in our field and have our own unique panel of independent lenders for both residential and business finance.
Cheap 1st time buyer bridging loans
Okay, so here is the full methodology behind using a bridging loan to buy a property without a deposit. We use contacts in the financial market to match you to a loan lender. This will either be an unsecured loan in the firs tinstance, or secured agains tthe property you are looking at buying.
Please be advised that unsecured loan that are used as deposits do have a higher rate of interest. The unseucred loan is then used as the deposit for the forthcoming mortgage. you then have to pay off the unsecured funding alongside the mortgage, BUT you own your own home.
Tel: 0845 467 9798
Alternatively, a secured bridging loan is put in place with which you buy the house. You then, or we on your behalf, apply for a mortgage. The mortgage is then used to pay off the bridging loan. You then have a mortgage in place.
Both strategies are classed as high risk funding options. This effects the interest rates on the loans only.
It shouldn't actually alter the base rate on any mortgage secured to pay off the initial funding.
As we have to use brokers in this method of cheap property funding, or nil deposit property funding, there are also fees involved for the time and energy that is put in by them to organise everything. it could range from a couple of hundred pound up to and over two to three thousand pounds, however, you will not have to pay it out of your own pocket. It will come from the funding areanged on your behalf.
Tel: 0845 467 9798
Contact us today to see if we are able to set up the original funding package so that you can buy a house outright before getting a mortgage on other form of secured finance on it. We look forward to hearing from you.