Taking out a Bridging Loan can be a useful, short term solution to a problem. Many people will take bridging loans when they want to buy a new property but have not yet sold their own, or when they are buying at auction or plan to improve a property and flip it on or refinance it once completed, on more favourable terms.
Bridging loans can also be taken to meet inheritance tax liabilities, which can become payable on inherited property very quickly. The taxman usually wants to receive payment within 6 months, so if you have a property to sell, a bridging loan might be a very necessary option!
We have written elsewhere on bridging loans. If you are interested in a bridging loan feel free to contact us for an initial chat. We can advise you on the options that might be open to you.
For more infomation or to speak to a specialist adviser, contact us on 01628 507477.
Related articles:
Download our Free First Time Buyers Guide
Recent posts
Your home may be repossessed if you do not keep up repayments on your mortgage.
There will be no fee for Mortgage Advice. There may be a fee for arranging a mortgage. The precise amount will depend upon your circumstances, but we estimate it to be between £399 and £599.
Mortgage Required Ltd, Finance House, 5 Bath Road, Maidenhead, SL6 4AQ is authorised and regulated by the Financial Conduct Authority reference 573718 at www.fca.org.uk.
The Financial Ombudsman Service is an agency for arbitrating on unresolved complaints between regulated firms and their clients. More detail can be found on their website: www.financial-ombudsman.org.uk
Call: 01628 507477