Leading Bridging Loans Broker Highlights Growing Value of Intelligent Finance Solutions for Auction

One of the UK’s biggest names in the provision of contemporary bridging loans has discussed a significant increase in the number of auction property buyers turning to these uniquely flexible Financial Products. Bridgingloans.co.uk has experienced a sharp spike in the number of loan application volumes and loan completions over the past 12 months, as property buyers across private and commercial markets alike become more familiar with the unique benefits of bridging loans.

Designed specifically to bridge the various gaps in the financial products and service provision of conventional banks and lenders, bridging loans are specifically tailored to offer the fastest possible access to significant sums of cash and the most agreeable, flexible repayment terms. In the case of the property option when golden opportunities are routinely missed simply due to temporary financial shortfalls, the true value and potential of the bridging loan speaks for itself.

Fast, Flexible and Fit For Purpose

“The beauty of a bridging loan is that it can be arranged quickly and is more flexible than a mortgage. Lending decisions on Bridging Loans for an auction property can be made within hours of the initial enquiry to the lender and the money can be made available within days. This allows the bidder to easily complete the auction purchase within the time frame specified by the auction company.” – bridgingloans.co.uk

When a bid is placed at an auction and proves successful, it is usually the case that the total cost of the property purchased must be paid within no more than 28 days of the auction date. Suffice to say, coming up with this kind of cash is exceptionally difficult depending on buyer circumstances at the time, with conventional banking and loan options often being anything but viable.

With bridging loans however, lending decisions are made in the shortest possible time and the necessary funds can be made available within a matter of days. This therefore ensures that when and where a property buyer comes across outstanding investment opportunity at an auction though does not currently have the finances required to close the deal, sensible and flexible financial solutions are available golden opportunities need not be missed.

Multi-Purpose Loans

“Bridging finance can also be used to pay the 10% deposit if required by the bidder. The bridging loan company would need to agree this prior to the auction date but providing this is acceptable the 10% is normally secured against another property owned by the bidder or another person associated with the bidder. It can even be arranged so that the bidder receives 100% or more of the purchase price so that renovation funds and fees etc. are covered.”  – bridgingloans.co.uk

Contemporary bridging loans are uniquely flexible and can be used for either full or partial payment of an auction property, or perhaps to simply cover the deposit required to reserve the property for the buyer. Access to the necessary funds is uniquely prompt, bridging loan rates are kept comparatively low and the shortest possible repayment periods ensure that the deal as a whole is closed and finished as quickly and smoothly as possible.

According to Bridgingloans.co.uk, those interested in picking up a property by way of auction would be well advised to consider the possibility of turning to a bridging loan when and where an opportunity too valuable to miss out on property development finance presents itself.

About Bridgingloans.co.uk

Bridgingloans.co.uk is a leading UK finance broker & principle bridging loan funder with a unique commitment to transparency and customer service excellence. Bridging loans are offered on the back of comprehensive and digestible information to ensure rational and beneficial decision making across both domestic and professional circles alike.

About BridgingLoans.co.uk

Bridgingloans.co.uk is a leading UK finance broker & principle bridging loan funder with a unique commitment to transparency and customer service excellence.