Regulated Bridging Loan to be a Cash Buyer
Getting a good deal and a great price when buying a home is something everyone wants. To get a good deal and a discount off the price is always a big plus. Also when there is a lot of competition and demand for a property, its important to put yourself in pole position, especially if its your dream home!
Property buyers in the strongest possible position are cash buyers. As a cash buyer, this gives sellers and their estate agents confidence, that you are in a strong position to complete the purchase. This gives sellers and their estate agents more confidence the sale will complete quicker.
Regulated Bridging Loan to be a Cash Buyer
A Regulated Bridging Loan can be used to give you the same advantage as a cash buyers. A regulated bridging loan can be arranged very quickly, with no income or affordability assessment required. If securing on your current home or with a big enough deposit, there may be no need for a physical valuation to be done.
It is not unusual for a Regulated Bridging loan purchase to complete within 2 to 4 weeks, so you can move quickly to secure your new home. The most important thing is your exit plan, which is how you plan to repay the Bridging Loan. The maximum term is 12 months so you need to be able to repay the Regulated Bridging Loan by remortgage or sale of a property or some other form of repayment strategy (inheritance or pension draw-down).
Key Features of a Regulated Bridging Loan:
- Loans from £25,000 to £10,000,000
- Loan to value up to 70% (100% with additional security)
- Secured on Residential Property
- No monthly payments
- No income or affordability assessment
- No exit fees
- Repay in full or in-part at anytime without any penalty
- 12 month term
- Receive funds quickly, usually in weeks and sometimes in days.
Contact us
About us
First Select Bridging Loans are friendly and professional FCA regulated mortgage brokers. We can access mortgages from the whole of the UK mortgage market, meaning we can get the best possible deal for our clients circumstances. Based in Manchester, we are a family business with decades of experience in financial services. Our goal is to be the most trusted regional mortgage advisory business in the northwest of England.
Our team of experts are ready and waiting to help. Contact the team below:
Phone: 0161 393 1575 // 07780 446 937
Email: hello@firstselectfs.co.uk