Residential Bridging Loans
Various Situations when You Should Use Residential Bridging Loans
Our residential bridging loan amounts refer to a short-term type of interest only loans used mainly to help individuals in meeting with a pressing financial requirement while dealing in the home or property market.
Here, loan providers decide on approval or rejection of various residential bridging loans applications according to the value possessed by any property and an individual’s exit strategy, which should be higher than the ability of their meeting the payments.
When to Use the Bridging Loan of this Type
Individuals may opt for our residential bridging loans in the UK when they have to deal with following cases-
Broken Chains of Properties
Whenever buyers pull out the offer on the next home of yours and your deposit comes in a huge jeopardy. In this situation, residential bridging loan offered by us may tide you until the home comes back on the market and comes back under the offer again.
Buy a New Property
Most of the times, individuals may not be able to arrange for the down payment of a new property by selling their previous one. Here comes the role of bridging loan that gives the required amount and within a less possible span of time.
Refurbishment of Residential Projects
You may look for a wide range of residential bridging loan rates to refurbish any residential property before you get the full capital amount.
Short Lease
Another reason, for which individuals often opt for bridging loan, is to purchase any property within a short lease. In simple words, you may utilize the facility of bridging loan for buying of the property and later on, boost its value by a simple extension of the lease. In this way, you will come up with a valid exit strategy.
GET IN TOUCH TO GET A FAST BRIDGING LOAN
CALL US – 0161 649 2008 OR EMAIL: info@ralphpropertyfinance.co.uk
Is Residential Bridging Loan Right For Me?
Bridging loan can be beneficial for
- Fast short term finance
- Lease extensions and freehold purchases
- Property development
- Auction purchases
- Repossessions stopped
- Buying under value from an LPA Receiver
- Building an uninhabitable property
- Unexpected taxes liability
- You want a loan based on the value
- When standard credit is refused
- You want no monthly payments
Bridging loan can be beneficial for
- Fast short term finance
- Lease extensions and freehold purchases
- Property development
- Auction purchases
- Repossessions stopped
- Buying under value from an LPA Receiver
- Building an uninhabitable property
- Unexpected taxes liability
- You want a loan based on the value
- When standard credit is refused
- You want no monthly payments
Our Criteria
With no credit checks and market-leading rates, we can provide bridging finance fast
- No credit checks or bank statements. – No credit checks or bank statements but clean credit history required.
- 1st and 2nd charge loans available
- Up to 80% LTV for residential
- Option to have no monthly payments
- No proof of income, depending on transaction
- Option to deduct interest from loan
- Competitive rates starting from 0.5%
- Loans to individuals, LLP’s or limited companies
- Loans based on RICS Market Valuation
- Terms from 6-36 months
- Loans from £40k to £5m
- Discharged Bankrupts Welcome
- Decisions within 48 hours
- England
- No set criteria
- 100% loan to purchase up to 70% OMV (additional security may be required)
Bridging Loan FAQ’s
Q1) WHO CAN APPLY?
Anyone over age of 18 who is looking to buy a property
Q2) DO YOU ONLY LEND ON SPECIFIC TYPES OF PROPERTIES?
No, we will consider all types of properties as security
Q3) IS THERE ANY EMPLOYMENT CRITERIA FOR THE BORROWER?
No specific criteria, however borrower would have to demonstrate affordability
Q4) HOW LONG CAN A BRIDGING LOAN BE TAKEN OUT FOR?
It can be taken out for a minimum of 6 months and maximum of 36 months
Q5) HOW MUCH CAN BE BORROWED?
Anything up to £5 million
Q6) HOW LONG DOES IT TAKE FOR A CLIENT TO RECEIVE FUNDS?
Decision in principle within 48 hours, after which it depends on how quickly your Solicitor can act
Q7) WHEN WILL MY CLIENT FIND OUT IF THEIR APPLICATION HAS BEEN SUCCESSFUL?
We provide a decision in principle within days
Q8) ARE THERE ANY UPFRONT FEES?
No fees are payable until an offer is accepted.
Areas We Covered
Greater Manchester
We provide Residential bridging loans as a financial solution to the residents of Greater Manchester. It helps them to build a better property.
Bolton
We help to avail Residential bridging loans for the Bolton natives to match with their property development needs.
Rochdale
Our Residential bridging loans will help to expand the homes of Rochdale natives. It will also take care of the financial solutions that are needed for the residential refurbishments.
Oldham
Our Residential bridging loans can be used for property renovations and developments of Oldham.
Ashton
We understand the financial gaps of the Ashton natives. We offer Residential bridging loans to help them for their residential development needs and give them all possible financial solutions.
Hyde
With the Residential bridging loan, it is easier for the Hyde people to purchase, renovate or refurbish a property.
Denton
In Denton, it is difficult to move forward with the residential development needs. We help to expand the homes of the natives by offering Residential bridging loans.
Tameside
Our Residential bridging loan will help you as the best financial option for all your property development needs in Tameside.
Cheshire
We want every need for the residential development could complete in Chesire. For that, we are offering a Residential bridging loan with a minimal application process.
Stockport
With the Residential bridging loan, the residential owners of Stockport can grow and expand their homes.
Wigan
Our Residential Bridging Loan can be used to refurbish/renovate a property in Wigan before the full funding is available. Later on, when you have the funds, repay it or pay according to the tenure.
Leigh
We avail the Residential bridging Loan for the people of Leigh with minimal formalities and to a maximum amount. This way, all their residential development needs will complete.
Salford
We ensure to avail the best & cheapest possible loan for the people of Salford for their Residential property development requirements.
Trafford
We help the natives of Trafford with all sorts of finance needs for their residential property development. We bridge those financial needs by availing them a Residential bridging loan.