Regulated Bridging Loan Downsizing
A Regulated Bridging Loan can be very useful when your planning to sell your larger home and move into something smaller, more manageable and appropriate for your needs. Many people in the UK would like to ‘downsize’ or ‘right size’ into the more suitable home.
However the reality is much more difficult with not enough retirement homes being built in suitable locations, meaning downsizers would need to move out of the area and away from friends or family to find a suitable property. However from time to time, the perfect home comes available and competition for it can be fierce. This is where a Regulated Bridging loan can help.
Securing your forever home
If you are selling your home (which has little or no mortgage) then a Regulated Bridging loan could put you in pole position to purchase your ideal home and beat the competition. Using a Regulated Bridging loan means you can purchase the new home, before your home sells. This will effectivly put you in the position of being a ‘cash buyer’ and you will be able to complete on the purchase in just a few weeks.
Having secured your dream move, you can then move in without the stress and anxiety of moving day deadlines. You have 12 months to sell your home and repay the Regulated Bridging Loan with the sale proceeds. Whilst there this is cost to bridging finance, the cost should be balanced by the reduced stress, certainty of winning your dream home, time to move into your new home at your leisure.
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 day
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