Bridging loan for Repossession
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.
What Is Repossession?
Repossession can occur when the registered charge owner obtains a Court Order against you to gain possession of your property and force you to vacate the premises. You will usually receive a Court Order for repossession if you have failed to keep up with your mortgage repayments. Typically, the registered charge owner is a bank or building society to which you have a mortgage with.
Court Orders for repossession often only provide the borrower with a short time frame to catch up on their payments. However, an agreement can be made with the court to make the payments within a longer period of time; such an agreement could enable the borrower more time to resolve the issue.
How To Resolve A Repossession Court Order?
When faced with a Court Order for repossession, you may require a substantial amount of finance to settle the Order and it is unlikely that you will have the capital available to do so.
If you are in danger of having your property repossessed, you may want to explore your bridging loan options.
What is a Bridging Loan?
A bridging loan is a loan that is specifically designed for short term use. Bridging loans are well suited to resolving repossession scenarios, as they can provide a significant amount of finance within a short time frame.
Bridging loans are provided by private lenders, which means that they are not available on the high street and the general public are usually not aware of them because bridging loan deals are not featured on comparison websites.
Features Of A Bridging Loan
A clear exit plan must be in place in order to access bridging finance. An exit plan is the method that the borrower intends to use to repay the bridging loan within the agreed term of finance. An example of an exit plan is where the borrower refinances their property, after completing repayments of their mortgage arrears.
Bridging loan lenders will often offer the option to ‘roll-up’ interest to be paid at the end of the term of finance, which may be useful because it helps avoid monthly interest payments.
In addition, some bridging loan lenders are prepared to provide loans to those with bad credit.
Bridging Loan Calculator
Find out how much you could get with our Bridging Loan Calculator.
When Can a Bridging Loan Be Used?
A bridging loan can be used throughout the repossession process.
Bridging finance is appropriate for the following:
- If your bank threatens to repossess your property
- When you are in arrears with a second charge
- In the event you receive Court Proceedings for repossession
If you need a bridging loan to resolve your repossession issue, call us on 0117 313 6058 or complete our request callback form above.