How Bridging Finance Differs from Mortgages
Unlike traditional high-street mortgages, bridging finance is not necessarily based on the purchase price and offers a speedy turnaround, without any of the delays or complications which could prevent your project from completing. If a short-term problem with funding arises, bridging finance is a quick solution that gives you access to the sum of money required.
Also, some properties are not mortgageable through high-street lenders, which is where bridging finance can help further still. There are a number of reasons why a property will be ‘unmortgageable’, including a state of disrepair, structural issues, and low overall value. Banks and traditional mortgage lenders have strict criteria; however, bridging loans are assessed under different criteria, allowing a solution to this funding complication.
Our trusted friend – Affirmative Can Provide a Solution to Mortgage Complications
If you are faced with funding complications when trying to secure a property, or you find that a property is classified as unmortgageable, Affirmative can help. With our bridging finance you can borrow up to £5 million, and if required we can provide the money within a matter of days or even hours – however quickly you need it in order to complete the transaction.
Fill in our online enquiry form for more information, or call us directly on 08000 44 84 84to talk through your individual requirements. If you are applying for a regulated mortgage contract, you will need to submit your application through an intermediary that is authorised and regulated by the Financial Conduct Authority.
Blog taken from Affirmative Finance website
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