Short Term Mortgages
Our Short Term Loan Mortgages Service
For Short term finance calculator - 1 to 12 Months - Click here »
Special features of what we offer include:
- Short term finance from 1 month
- Whole of market service - we work directly with UK bridging and short term finance lenders
- Latest deals - Access to leading short term mortgage deals
- Exclusive Rates - Access to exclusive short term loan deals not available on high street
- Need fast turnaround? - speak to us today if you need to move quickly
- Buying a property at auction? - call us today
To investigate your bridging loan/short term mortgage loan options call our mortgage 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.
Why Choose Us?
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‘Short term mortgages’ also known as Bridging loans are a specialist kind of loan designed solely for shorter term usage to provide a temporary cash flow solution or ‘bridge’ before additional permanent finance becomes available.
The method for obtaining a bridging loan is straightforward and really versatile with a more flexible set of criteria than is usually required by most high street banks and mortgage lenders. Like a mortgage, a bridging loan is secured against your property.
Call us today on 0117 313 6058 or complete our bridging Loan quotes callback request form.
How do 'short term mortgages' work?
Short term mortgages are frequently utilised as an answer to a temporary cash flow problem. A common example of this type of situation is when a person wishes to buy a property but still needs to sell their existing home. A bridging loan can, in these circumstances, provide a solution by offering short-term funding.
Some people might consider bridging loans as ‘short term mortgages’ as like mortgages they are secured against an asset such as property or land that belongs to the borrower. This means if the borrower fails to make their repayments the security could be repossessed. Bridging loans however for the most part have to be repaid within 12 months, so they are not suitable as a long term finance option.
What situations might require a Short-term mortgage?
You can use a short term mortgage to:
- Secure a property quickly - before it is snapped up by another buyer – even if you have not yet sold your current home
- Breaking a mortgage chain - Secure your ability to buy even in the event that the home buying chain breaks down – for example, if the sale of your old house falls through, a bridging loan can allow you to still have sufficient funds to purchase the new house
- Buying auction property – use a bridging loan to pay the required percentage needed to secure the property on the day of the auction
- Fast finance - Get a fast, temporary cash injection when you most need it during the property purchasing process
Types of Short term mortgage
There are two principle types of short term mortgage loan or ‘bridging loan’
- Closed bridging loans – With this type of agreement the short term mortgage lender will set down a fixed date on which the loan has to be repaid in full. These are typically used in instances where the borrower has exchanged contracts but is waiting for the sale of a property to reach completion.
- Open bridging loans – Bridging loans with open agreements do not have a set date on which the borrower has to repay the loan, however bridging loans for the most part have to be repaid within a 12 month time frame as they are only intended to be a short term finance solution.
Conditions of short term mortgage loans
As bridging loans are only intended to be a stop gap solution they can attract high rates of interest and arrangement feels therefore it may be advisable speaking to an independent and regulated adviser before taking one out.
If you are unsure about what bridging loan is suitable for you call us on 0117 313 6058 or complete our request callback form.