BRIDGING OR SHORT TERM FINANCE

Also

REFURBISHMENT FINANCE or AUCTION FINANCE

 

 

Examples of when this type of finance may be required are:

Bridging Short term Auction and Refurbishment Loans

  • A property is not mortgageable in its current state and needs work doing to it (refurbishment) before it can be mortgaged long-term
  • A property is bought at auction and there is insufficient time to arrange a long term mortgage before the completion date
  • The property is being converted from its original state into something else e.g. house into an HMO
  • Any situation where speed of completion is of the essence

 

 

Bridging finance will usually be more expensive than, for example, a Buy to Let mortgage so the aim is to repay the short term loan and switch to a more conventional mortgage as soon as possible.

 

However many Buy to Let lenders will not allow you to remortgage a property until you have owned it for at least 6 months.

 

ibmco has contacts with a panel of short term lenders and also knows which Buy to Let lenders will allow a remortgage in a shorter period than 6 months.

 

Contact us:

 

Pav direct contact 07824 995361 email pav.khoker@ibmco.co.uk

David direct contact 07984 855428 email david.slaney@ibmco.co.uk

Or use the contact button below

Bridging, Short Term or Auction Finance