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What are Bridge Loans in the UK and its advantages

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Residential Bridge Loans are temporary loans which fulfill the gap in between the cost of new home and a customer’s new home mortgage, in the situation the buyer’s home has not been sold.

Advantages of a Bridging Loan

  • Bridge loans can help to release capital in an existing property until a buyer is found or a sale completed. For example, when planning to sell an existing property or asset, you may know that selling this particular property may take a time to sell at the required value, but capital is required immediately. Even in areas of high demand selling a property can take many months, in this situation the best choice to release the required funds would be a Bridge loan.
  • When your bank fails to approve a loan for you, you may be eligible for a bridge loan, even if you have Bad Credit. Even if a loan application is accepted by the bank, normally traditional lending will take longer to process due to the many procedures, paperwork and check banks have put in place. With Bridge Loans from Bridge Direct, you are guaranteed an instant decision, meaning you will get the required funds much quicker.
  • The loan repayment options are flexible. With a mortgage you are expected to show that your revenue or investment is going to be sufficient to pay back the mortgage. With a Bridge Loan it is possible to make use of an interest reserve when you have sufficient capital held in the property to increase the size of the loan.
  • Traditional banks will follow strict guidelines and procedures for all their loan approvals. But with Bridge Loans you will find this more flexible and the deal can be brokered to you and your situation. No matter what your situation, Bridge Direct may have a deal for you!
  • For investors releasing capital is very useful, it can be used to kick start projects or even help to pay large tax bills. Bridge Loans can be especially useful at the time when you are looking to find immediate finance to fulfill a particular project or buy a new property.

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