When it comes to buy-to-let (BTL) finance, there are various products, rates and structures available, bridging finance being one of them. There is no one-size-fits-all when it comes to million-pound-plus buy-to-let financing. You’ll find that personalised finance packages are most advantageous, and you’ll want to benefit from a solution that’s tailored to your income, assets and overall circumstances. There are hundreds of lenders that provide loans in the UK, from major international banks to niche building societies and alternative lenders. Each lender has its own specialisation and position in the market where they excel. They also have lending criteria, interest rates, processes and oddities which are specific to them.
Bridging finance is a short-term mortgage secured against your property. It can be a mechanism to release equity from your home quickly before refinancing with another lender. Bridging finance comes in many shapes and forms. It can be used to buy a new home before your current property sells, renovate a property before you put it up for sale or upsize or downsize without going through a lengthy mortgage process. There’s practically no limit to how this type of financing can be used.
You can take advantage of bridging finance if:
You have complex or low income
A significant portion of your wealth is tied up in assets like property
You know banks and mainstream lenders won’t want to lend for the project you want to explore
You have an ambitious project and aggressive plans
The opportunity you wish to pursue requires significant borrowing
The relatively short-term nature of bridging finance can be challenging, requiring experience, contacts and negotiating skills to secure the best possible terms with as much flexibility as possible. Extremely competitive interest rates, staged funding release to save on interest and utilising assets and income as security are vital elements of bridging finance deals.
We excel in these areas as well as pre-arranging cheaper traditional refinancing of bridging loans at the end of the term.