What is Property Bridging Finance
Property bridging is a way of selling your property and then using the money to purchase another property. This allows you to take advantage of the capital gains tax (CGT) exemption that applies when selling your first home.
How does bridging finance work?
When it comes to bridging finance, what you're doing is taking a short-term loan from a bank and then paying the loan back with money from your business. This allows you to take advantage of lower interest rates on your business's loans.
What does bridging finance cost?
One of the most common questions first-time buyers ask is how much it will cost to buy a home. The answer can be complicated, but fortunately there are affordable ways for you to get a down payment together.
How To Apply for Bridging Finance
Here are the steps you should take to apply for bridging finance: Put your mortgage application in order. Get pre-approved by a lender. This can be done by applying directly with the bank or by getting pre-approval from a third party, such as your bank. Contact a broker and ask them to prepare an offer letter, which will include all of the details of your deal. The offer letter should also provide information on how much money you’ll need to pay if accepted. You may need more money than what is listed in this document, depending on how much equity you have in your home and other factors that could affect closing costs and other charges associated with buying a new house. Make sure that everything is ready before you go see the seller/listing agent(s). Ask for references, including previous agents who handled similar deals. Make sure that they were able to close on time and without any problems; otherwise it might not be worth going through with the deal until things improve at work or elsewhere in life (or both). Do not rely solely on referrals from friends or family members who are selling their homes! Also make sure that they know what type of property it was (apartment or a house) so they can help when it comes time for negotiations regarding price reduction demands from buyers! As part of closing preparation, fill out any paperwork necessary like title policy surveys etc... just make sure its filled out completely before you leave the office! Also try to get all documentation related to repairs completed well ahead of time so its easy when its time for inspection(s)!! After inspection make sure all documentation is ready for buyer's solicitor after inspection call us up we will review these documents then send them off as well
How long does bridging finance take?
The average transaction time for a bridging loan is about 30 days. However, it can be as short as 15 days or as long as 90 days. Your lender will make their decision based on your credit score and the amount of money you have available to close.
Get in touch with our highly experienced bridging finance team today to discuss your bridging finance requirements, covering all of the UK.
Bridging Rates - Bridging Finance rates available from 0.4% per month.
