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Compare Bridging Mortgages

Start here get an up to date quote from over 100 Bridging Mortgage lender’s.

Bridging Mortgages

A Bridging Mortgage is sometimes referred to as a mortgage bridge loan. We at BWG have been arranging these Bridge Mortgages for over 15 years. during this time we have accumulated a vast array of contacts with all of the high street banks and over 75 specialist lenders, it has to be said though that the big six banks do not really have much appetite for this type of Bridge Mortgage.

One advantage of working with BWG is that as one of the largest providers of Bridging Mortgages in the UK we have preferential interest rates and we also have access to deals not available directly or through the vast majority of brokers.

A Bridging Mortgage is basically a short-term mortgage that would be issued from a Bridging lender for a period of anything from a few weeks up to 12 months. This type of loan is predominantly used to purchase a property be it residential commercial or semi-commercial, although the fact is the vast majority of loans are taken out on residential property.

From your initial enquiry, through to completion of you bridging mortgage, we will first set out the terms that we have obtained for you and then explain in detail our thoughts on what your best option is likely to be, once you are happy that the mortgage fits your requirements, we will then instruct a surveyor for a valuation on your behalf and set out clear instructions on what to do and when. Also, we work 24/7 so whatever issues arise we are by your side to deal with them at any time of the day or night.

So whatever you want your Bridging Mortgage for we are here to help, as a master broker we can also get deals agreed that would have failed with other brokers.

BWG Finance

Some important things about working with BWG Finance. Here are the most important…

  • On the premier panel of all of the UK’s Bridging Mortgage Lenders
  • We work 24/7 so are always available to take your call
  • Specialists in arranging  Bridging Mortgages for many years
  • The latest technology to keep you up to date with your application
  • We work with every Bridging lender in the UK
  • Fully FCA regulated to provide advice
  • Over 15 years working with customers arranging Bridging Mortgages
  • Over 300 five star reviews based on the service we offer
  • Always tell you exactly what your costs are likely to be
  • Never Any Upfront Fees or Charges, We Are Paid When You Get Your Loan

Bridging Mortgage Features

  • Same day decision

  • Quick draw-down of your bridging mortgage

  • Mortgage Bridging from 1 week to 1 year

  • Up to 80% LTV 100% with multiple properties

  • Compare All Bridging Mortgage lenders

  • Mortgages from £30,000 with no max

  • The minimum age is 18 with no upper limit

  • Interest is included in the loan

  • Any credit status is ok

  • No proof of income is required

  • Residents from outside the UK

  • Land and any type of property

  • Anywhere in the UK

  • Poor condition property is fine

Bridging Mortgage Features

  • Same day decision

  • Quick draw-down of your bridging mortgage

  • Mortgage Bridging from 1 week to 1 year

  • Up to 80% LTV 100% with multiple properties

  • Compare All Bridging Mortgage lenders

  • Mortgages from £30,000 with no max

  • The minimum age is 18 with no upper limit

  • Interest is included in the loan

  • Any credit status is ok

  • No proof of income is required

  • Residents from outside the UK

  • Land and any type of property

  • Anywhere in the UK

  • Poor condition property is fine

What is a Bridging Mortgage?

A Bridging Mortgage can complete very quickly sometimes in as little as a week from the solicitors being instructed, although it’s sensible to factor in between 2-6 weeks to get the mortgage completed, this will allow for any hiccups along the way.

Because these mortgages are so fast it allows them to be used in cases where funds are needed in a very short timeframe such as with an auction purchase or purchase of an under market value property.

Obviously, the speed of arrangement and drawdown of a mortgage bridge loan is one of the key reasons for taking one out. However, in order to complete quickly, it will need all parties working together and to an agreed timetable.

With a mortgage bridge loan being able to complete in under a week, they can be very useful in specific situations.

A mortgage bridge loan can be  used for a number of reasons, such as to quickly buy a house before you have sold your own property, by taking out a bridging mortgage you can complete on the purchase of a property without actually selling your own property, this has a number of advantages, first in effect you become the equivalent of a cash buyer which is always very attractive to a seller.

In effect you remove yourself from any property chain that is in place, meaning you are not reliant on anyone else in order to purchase the property you are buying.

These factors, in turn, put you in a very strong negotiating position when agreeing on the price on the property you intend to buy.

Different providers each have their own set of criteria on loans, so it is vital you get a good broker to ensure you get access to the best deal available,  because we are a premier broker we get enhanced fees from the lenders, as a result, we do not charge any broker fees to our clients, furthermore we only get paid out once your Mortgage has completed, if you don’t get your loan we do not get any commission.

Bridge Mortgages are very flexible, unlike traditional Mortgages, allowing you to pay back the loan at any time within the agreed loan period.

When you pay your mortgage bridge loan back you will only be charged for the actual days that the loan has been outstanding for, so if the period was 100 days you just pay for the 100 days interest the mortgage was used for.

A Bridging Mortgage can be taken out by virtually anyone who owns a property with some equity available in it. Unlike a normal mortgage, there is no need to demonstrate any income to obtain a loan.

These mortgages are totally non-status the loan is against the property and Interest is not paid monthly the lender will calculate the amount of interest the loan would accumulate over the mortgage term and deduct it from the loan.

Generally speaking, as long as you have enough equity in the property you are normally acceptable for a bridging mortgage of this type, CCJ’S are ok as are defaults, late payments, and arrears. Some lenders will, however, insist that any outstanding debts are paid off before the loan is released to you, other lenders will get an undertaking from you that you will repay the debts once you have drawn down the funds.

Outside of it affecting the monthly interest, lenders are generally happy providing finance to people with low income or poor credit history.

A bridging mortgage, as long as the security has the correct loan to value, can be taken out on many different, types of property such as all types of residential properties, houses, flats,  bungalows, semi commercial i.e shops with flats above and also virtually all types of commercial properties including but not least, offices, warehouses, shops, hotels, land with or without planning permission, in fact the list is endless as long as your security is either a property or land  and has enough equity in it then a bridge mortgage can be arranged.

The two main areas that are a no go for lenders are any accommodation for the elderly, obviously if they had to fall back on the asset to get their funds back it wouldn’t look very good on them putting  elderly folk on the streets, strangely the other one is places of worship (work that one out for yourself?)

Condition is also not important to lenders, as long as the property can be sold in its current state then it is suitable for security, these mortgages are often used when buying dilapidated properties that are unmortgageable and then once  they have been renovated the buyers will either get a traditional mortgage on the property or sell on for a profit. In situations like these, and depending on the scope and scale of the project, it might also be worth considering property development finance – BWG are happy to advise on the best option for your circumstances.

After your initial enquiry, we will discuss what options are available for your particular circumstances, during this initial conversation we will outline which lenders would be suitable for your bridging mortgage, what rates you are likely to expect to be paying in interest and also what fees and charges you would be expected to pay. These would include, the surveyor’s valuation costs, your solicitor’s costs, and their solicitor’s costs.

After our initial, chat we would email you the terms that we think would be appropriate for your bridge mortgage.

Assuming you then want to proceed we would ask the lender to issue a formal offer, this will include all costs and interest rates that apply to the mortgage.

The next stage would be to get a quote for a valuation and then agree to a  price for the lender’s legal costs, these have to be paid by the borrower and the price is, agreed upfront. You would then wait for the valuation results and assuming all is ok then the process moves on to the solicitors who will check the title and any covenants etc. In all, you should factor in anything between 1 and 5 weeks depending on the complexity of your case.

Start Here…

Compare Rates Now!

Enter Your Details.

Get A Quote Now!

Get your Quote now we search all Bridge Mortgage Lenders, simply enter your details and sit back and let us do the rest.

Compare Rates Now!

Get your Quote now we search all Bridge Mortgage Lenders, simply enter your details and sit back and let us do the rest.

Start Here…

Call us 24/7: 0800 138 6001

BWG Finance, Rex House 4-12 Regent Street, London, SW1Y 4PE. Tel: 0800 138 6001

Top 10 Finance Ltd trading as BWG Finance is authorised by The Financial Conduct Authority (FCA) no 725234 The FCA Think Carefully before securing debts against your home. Your property could be repossessed if you do not keep up repayments on your mortgage or any other debt secured on it. Data Protection Act (1998). Registration No: Z2861884 Company Number 06261373 BWG Finance Rex House 4th Floor 4-12 Regent Street London SW1Y 4PE (c) 2007 - 2018 BWG Finance. Sitemap - Privacy Policy - Reviews - Contact BWG Finance

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