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Bridging Finance

Bridging Finance

Lucy Gulwell Expert Mortgage Advice Barry Wales Vale of Glamorgan

Bridging loans are a way to borrow a large amount of money for a short amount of time. They're most commonly used to 'bridge the gap' when buying property.  Even though this is a quicker option for you, it can be more of an expensive route, here are reasons why you may need bridging finance:

  • Buying a property at auction. 

  • The property is deemed not habitable, therefore unable to obtain or go down the standard mortgage route

  • Buying a property before selling your home, this could be down to the chain being broken due to the sale of your property falling through.

  • Investing into a buy to let property that needs complete refurbishment 

They're also very risky. That's because the loan will be 'secured' against an existing property or asset, so – worst case scenario – if you can't repay your bridging loan, you could lose your home.

Get in touch now to find out more information.

Think carefully before securing debt against your home, your home may be repossessed if you do not keep up repayments on your mortgage.

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