Stop Repossession
Right up to the 25th hour. A bridging loan can be used to clear off the bank and other creditors so that your home is not repossessed. We can even give you the information on how to speak to them so that they understand funds to clear the debts secured against your home or property are forthcoming and you are able to stop the repossession.
Property Chain Breaks
Have you been let down by a potential buyer for your home? Have you already found the next property you wanted to live in but because of the break in the property chain, are worried you might not get to move? A simplistic fix is to use a bridging loan to repair the chain by using the bridge to still purchase your next house. It's quick and easy and low cost too!
Avoid Bankruptcy
Not only can you avoid bankruptcy using bridging finance, but you can also go some way into repairing yuor credit rating so that other lines of credit could be open to you in the future. Simply bridge secured against your home and clear you debts. Any bankruptcy charge should be then nullified. Then simply sell your home to clear the bridging loan.
Homeowner any purpose bridging loans
The bridging finance market has changed. Only a few years back, both banks and independent lenders where able to offer short term secured finance relatively easily. However, since the financial meltdown, and since Governments got involved with the ownership of banks and other major financial institutes, the regulations of lending has been stiffened up. It's almost at a point now where many of the banks and buolding societies refuse to offer bridging loans.
We work to a different set of rules. As we are an inpendent lender, we are not constrained to the rigid and somewhat over the top ruels and regualtions imposed on banks and building societies. This means that we can offer better or cheaper interest rates, a much quicker decision and are able to offer short term financing to those that have got a perfect credit history. We don't even need to know what the purpose of the loan is. We will simply base the funding on the equity in the property used as security.
This means that if you mortgage defaults. If you have missed credit card repayments. If you have any 'black marks' on your credit score we can still offering a line of credit to you. We cvan lend to those under the threat of a house or home repossession.
We can also offer funding to those that have an IVA (Individual Voluntary Arrangement) or on the Insolvency register. We can also offer those facing the possibility of bankruptcy. We don't base our bridging loan on credit scores, but on equity in the property or land being used as security to increase the chances of acceptance. All you need to do for a really quick decision is give us a call or use our online contact form to send us the details of how much you need to bridge and also the property details that is being used as security and a fast decision will be forthcoming.
Important news update:
Brand new bridging loan product. A 2nd charge borrowing facility, like a bridging loan except with a minimum loan value of just £10,000.00. Short and medium term repaymentplans available. As far as we are aware, we are the first lender in the UK to offer such a low borrowing threshold.
Read more about the new 2nd charge bridging finance here!
What can a bridging loan by used for?
Historically, this type of funding was used to bridge the gap in a property chain break. However, times have changed and a bridging loan can be used for any purpose by a home owner. Extending a property, cash flow, buying a 2nd home, buying an investment property, clearing debts, paying off a mortgage, anything.
There are no credit checks undertaken as we base the financing on equity, not on your borroiwing history. All you need is ample equity in the property you want to use as security and you should be accepted.
We can even offer funding to those that have IVA or bankruptcy judgements against and are registered on the insolvency register. Also funding available for those not currently living in the UK, but are moving here and looking to establish a credit history quickly. Get in contact to find out how much we would be able to lend you.