Bridging Loans
We arrange short term loans, most commonly known as Bridging finance. A bridging loan can provide fast access to funding when it is needed most. They are designed to be short-term (usually) not longer than 12 months and require you to have a strategy to ensure that you can repay the loan.
Bridging finance loans will always be secured against residential or commercial premises and in some instances even both. Payments are interest only so your monthly repayments are lower as you are not paying back any of the initial advance. There is also an option to roll the interest up into the loan so you have no monthly cost.
As bridging loans are a short term solution. the interest rate will tend to be higher than that of a mortgage, hence bridging facilities are unsuitable for long term financing, however bridging loans can be highly useful when you need to arrange funds fast.
No Proof of Income Bridging Loans from 0.49% pm
- Up to 12 month term
- Swift completions
- No ERC's
- No monthly payment required
- Monies for virtually any purpose including tax bills
- No Income proof if exit via sale of property
Choosing the right Bridging product can be a minefield. The difference in costs and terms between different lenders can be dramatic.
At JP Mortgages we are specialists in finding the right product for the right client.
From initial enquiry through to formal mortgage offer, JP Mortgages will handle everything on your behalf and ensure that your client has the most appropriate bridging product, and where appropriate the necessary exit route in place.