Following on from our new bespoke underwriting service that we launched last month, Specialist Mortgages has now been approached by a major mainstream lender to increase our bridging finance proposition and this new service will also only be available to a carefully selected panel of brokers.
Bridging loans are a short-term funding option used to “bridge” a gap between a debt coming and the main line of credit becoming available. However, they can also act as a short-term loan in pressing circumstances. As a result, bridging finance may be suitable for a number of scenarios such as a customer requiring funds to complete a purchase or for some light refurbishment of a property.
Our new bridging finance proposition will allow us to assist our clients with a number of situations as long as certain conditions are met and we will have access to some exclusive new products that you will be hard placed to source anywhere else in the marketplace.
A bridging loan becomes “regulated” when the loan is secured against a property that is currently occupied, or will be occupied in the future, by the borrower or any member of their immediate family.
As Specialist Mortgages is authorised and regulated by the Financial Conduct Authority, we can arrange regulated bridging loans.
A flexible underwriting approach will be used when considering bridging applications but the following eligibility criteria will apply:
We are delighted to have been approached by such a reputable lender to offer this new product and we will be rolling out further information on our latest proposition in the coming days so be sure to check back on our website regularly for further updates.
If you would like to find out more about Bridging Finance our how we can assist with other areas such as portfolio or development finance then give us a ring on 0345 873 1234 or drop us an email at email@example.com