Bridging Loan For Overseas Property
Bridging Loans Service For Overseas Property
If you are looking to buy a property abroad either as a second home, retirement home or investment and you need to move quickly, a bridging loan secured on a UK property can be an effective way of completing a purchase.
A bridging loan provides a short-term funding solution typically from 1 to 12 months and buys time while an existing property is sold or more traditional finance is arranged.
Benefits of a bridging loan include:
- Speed - time is often a key variable with property purchase particularly if there is competition. Bridging finance can often be arranged in 7 to 14 working days.
- Duration flexibility - finance can typically be arranged from 1 to 12 months. Some lenders will only charge interest on the duration you use finance. If you have a 12 month bridge but only need it for 3 months, then you will not be charged for repaying early.
- Interest payment flexibility - interest can be rolled-up with some lenders, which can allow you to avoid monthly interest payments during the term of finance and enable you to repay the loan in its entirety at the end of term.
Features of the services we offer include:
- Bridging & development finance from £50,000 to £25 million
- Terms of finance from 1 to 36 months
- Interest roll-up schemes
- Finance for individuals, limited companies, sole traders and partnerships
- Whole of market service - we work directly with UK bridging & development finance companies
- Lowest bridging company rates - Access to leading bridging finance deals
- Fast turnaround - speak to us today if you need to move quickly. 5 to 7 days possible.
To investigate your finance options when buying property abroad call our team on 0117 313 6058 or fill in our call back form.
Case Study - Buying a property in Spain
We were contacted by a financial adviser on behalf of his client who wanted to buy a property in Spain on the market for £300,000. The client had a unencumbered property in London valued at £600,000.
We were able to provide indicative terms to the adviser on the same day from a specialist lender to cover the finance required using the London property as security. 3 days later the adviser met with the client and an independent solicitor and the paperwork was completed to proceed. A survey was carried out a few days later on the London property, which was satisfactory.
Once the appropriate legal work was completed, the funds were released and the property in Spain was purchased.
For more information on how we can help with finance raising call our team on 0117 313 6058.