Sometimes mortgages are unable to accommodate the rapid nature of property transactions. Mortgage bridging loans are a form of short-term bridging finance suitable for those in need of a financial bridge for a property purchase or as a means of providing finance to facilitate a property investment scheme.
Mortgage bridging loans are normally short term loans, which are repaid by the borrower through a more permanent mortgage when the property to be sold has been sold or from the sales proceeds of another property, if the loan is used to finance the purchase of a new property. They may also be used to help fund the purchase of a property requiring significant works to be completed before being able to obtain a more permanent form of finance.
The amount of finance on any mortgage bridging loan, together with the level of interest charged and any exit fees will depend on the individual circumstances of the borrower and the particular property being purchased. It is important that a borrower take into account the overall cost of the bridging mortgage loan and the timeframe for repayment before taking on any bridging finance arrangement.
Silver Oak Capital will be happy to discuss your property finance needs and identify any suitable finance packages available to help fund your property investment. We are able to assist you with your property financing requirements whether you are a first-time buyer, or require a mortgage bridging loan to provide interim finance for property development works.
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