Bridging Finance To Purchase Overseas Properties
Our Bridging Loan Service
Special features of what we offer include:
- Bridging Loans from £50,000 to £15 million
- Term - From 1 to 36 months
- Bridging loans for individuals, limited companies, sole traders and partnerships
- Interest roll up schemes
- Whole of market service - we work directly with UK bridging lenders
- Lowest Rates - Access to leading bridging loan deals
- Fast turnaround - speak to us today if you need to move quickly. 5 to 7 days possible.
To investigate your bridging loan options call our team on 0117 313 6058 or fill in our call back form.
We can provide bridging loan options and then provide mortgage solutions once the bridging loan is no longer required.
A bridging loan is a type of loan that is geared towards short-term usage. Bridging loans can provide a substantial amount of capital in a tight timeframe; they can plug the gap when there is a shortfall in funding until long-term finance can be secured.
Bridging loan lenders will only provide a bridging loan so long as there is a clear exit plan in place. An exit plan is the method in which you intend to use to repay the bridge. An example of an exit plan is where you use the proceeds of the sale of your existing UK property to repay the bridging loan.
Bridging loans often come with the option to ‘roll-up’ interest to pay at the end of the term of finance. This means that you could take out a bridging loan, purchase your property overseas without having to service monthly interest payments. If you opt to ‘roll-up’ your interest, you could pay the loan and the interest upon execution of your exit plan.
Why use a bridging loan to purchase overseas properties
Although approaching a traditional lender such as a high street bank for a residential mortgage for an overseas property may seem like an appealing prospect, this might not be the best option to secure the finance you need.
Traditional lenders are often reluctant to provide a mortgage to purchase a property abroad, unless they have an established branch in the country you intend to move to. This could restrict your options in relation to moving abroad.
In addition, traditional lenders’ application processes are notoriously lengthy. Not only will you be required to provide a number of documents that could be an inconvenience to produce, but applications can take up to several weeks or even months to process. This sort of delay could potentially make you lose out on your desired overseas property to another buyer.
Bridging loan lenders have a wealth of experience in assisting clients with a host of different scenarios, which means they are typically not fazed by the purchase of overseas property or dealing in foreign currency for that matter.
Also, bridging loan lenders’ applications are often simple, straightforward and fast. We work with some lenders that can process an application and release the finance you need within 7 working days, depending on your set of circumstances.
If you need bridging finance to purchase overseas property, call us on 0117 313 6058 or complete our request callback form.