Bridging Loan Description
- Funds can be available within as little as 5 working days from receipt of acceptance of our formal offer
- 100% of purchase price possible *
- Simple and efficient application procedure
- Interest can be added to the loan
- No minimum term (purchase only)
- Open ended bridging available
- Loans available from £50,000 to £2,000,000
- Daily interest - from 1% per month
- No exit fee
- We lend on residential properties in England, Scotland and Wales
|
|
To make an application and receive a personalised illustration, complete the on-line Enquiry Form. Alternatively, telephone a member of our Property team on 01329 234294.
The Hampshire Trust bridging loan can be used for a variety of purposes, the following list being just a few examples:
- To enable the purchase of one property before completion on the sale of another
- To fund the purchase of a property abroad, be it for owner occupation or holiday/investment purposes. The security must be a first or second charge on a UK residential property
- Temporary funding for the purchase of a ‘defective’ or unmortgagable property, pending completion of repairs and drawdown of a long-term mortgage
- To fund the purchase of a property in need of refurbishment, with a view to resale on completion of the improvements. In these circumstances we can also provide additional funds in stages to cover the cost of the works
- To fund the urgent purchase of a property, pending arrangement of a long-term mortgage. This can be particularly useful in auction situations
- Capital raising for any purpose, pending the sale or re-mortgage of the security property
* We can provide up to 100% of the purchase price, assuming that we take a mortgage on both the property being purchased and the property being sold – subject to the overall loan to value not exceeding 75%, including any interest roll.
Interest is usually rolled up and added to the loan (loan to value permitting); or it can be paid monthly if preferred.
For further information regarding our bridging loans, click here for ‘frequently asked questions’, or telephone one of our Property team.
Your home may be repossessed if
you do not keep up repayments on your mortgage.
|
