Product of the Week: low rate bridging loan for homeowners

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Have you ever considered taking out a bridging loan for your residential property? Once considered a shady area, bridging loans have become a mainstream finance option and can be used to great effect in residential property finance. To illustrate, this week’s product of the week is a low rate bridging loan suitable for homeowners with a range of finance needs.

More bridging loans than ever before are regulated by the Financial Conduct Authority. In Q1 of 2017, 50.7% of bridging loans were regulated, the highest proportion of regulated to unregulated bridging loans ever seen.

So how can taking out a bridging loan help your residential property transaction? There are many ways they can be useful. As bridging loans can be arranged quickly, they are the ideal finance type if you need to complete a transaction quickly. Bridging loans can also be used if you need to purchase your next property before your current home has sold. They can also be used to downsize; the cost of moving home can be prohibitively expensive, even if you stand to make a significant profit from downsizing.

Although historically considered an expensive option, rates have improved drastically—and through using a broker like Enness, you can access exclusive market rates for your bridging loan. This week’s product of the week is a bridging loan at a 0.54% monthly rate, with no exit fee and a 12-month term.

  • 0.54% monthly rate
  • 12-month term
  • No exit fee

To provide perspective, the average bridging loan monthly interest rate in the first quarter of 2017 was 0.83%. As such, being able to arrange a 0.54% monthly rate on a bridging loan is a fantastic opportunity. This rate is exclusive to Enness.

The essential thing to remember about bridging finance is that my close relationship with a number of specialist lenders enables me to negotiate extensively; the rate you can achieve could be better depending on your circumstances. If you feel you could benefit from taking out a bridging loan, I would be delighted to advise you on this, and can negotiate on your behalf to secure the best possible deal.

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