In today’s property market you need to act quickly in order to find secure the best deals, otherwise, you will lose out to someone ready to jump in front of you. This is especially true at property auctions, where you need to act quickly in order to find the right property bargains.
In this type of situation, Bridge Loans are an ideal solution. With the aid of a short term finance option like a Bridge Loan, you can complete on that ideal property immediately, without needing to sell any existing assets, and unlike bank loans or mortgages, you can still secure a bridge loan despite having weak credit or bad credit finance.
Here at Bridge Direct, we are not brokers, but direct lenders, with access to more than £12 million in funds. Bridge Direct will provide a guaranteed instant decision to all bridge loan applications, and in some cases, funds may be transferred on the same day. When compared to a conventional long-term mortgage or loan, where because of modern due diligence and credit checks approval can run into weeks and even months.
Quick bridging loans are a quick term financial option that allows the borrower to secure funds against collateral they already hold in an existing property or asset, without having to sell it to release the funds. The primary benefit of Bridge loans is that the borrower can retain ownership of the property and quickly release capital held in it. As the borrower is securing the loan against value already held in a property, this means that bridge loans are available to those even with bad or adverse credit.
Another benefit of bridging mortgages are in their convenient and flexible payment options. As the funds of the bridge loan are paid back when the loan is drawn down at the end of the term, the borrower doesn’t need to worry about making the regular monthly payments they would with a mortgage or bank loan. As well as this, the borrower would not incur the same early settlement fees that they would with a long-term mortgage or bank loan.
Bridge loans are a protected mortgage loan, which is usually secured by a property. This means the loan will be secured against collateral held currently in a property or asset of the borrower. The amount you can release will vary from Bridge Loan Mortgage Company to Bridge Loan Mortgage Company.
Bridge Direct will find the best deal for your situation. As direct lenders (no middlemen) bridge direct will accept 1st and 2nd charges, have no credit checks and you may be eligible for a loan even if you have bad or adverse credit.
So, if you have found that ideal property and don’t wish it to get away, a Bridge Loan might be the best option for you. For an immediate decision on your Bridge Loan request contact Bridge Direct now! With over 30 years of expertise in Bridge Loans as well as the financial market, they will be able to find a bridge loan deal for you.