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Bridging Finance

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Comments

  • Conrad
    Conrad Posts: 33,137 Forumite
    10,000 Posts Combo Breaker
    K, I think most of the high street Banks will be the cheaper options. 1 week for bridging is a bit tight tbh, there are still many hoops to jump through.

    Beware, I find a lot of clients end up going to thier own Bank, after letting you run round like a headless turkey. I would insist on a fee up front.
  • koexelek
    koexelek Posts: 7,847 Forumite
    Conrad wrote: »
    K, I think most of the high street Banks will be the cheaper options. 1 week for bridging is a bit tight tbh, there are still many hoops to jump through.

    Beware, I find a lot of clients end up going to thier own Bank, after letting you run round like a headless turkey. I would insist on a fee up front.

    Appreciate your input.

    I'd be quite happy for them to go direct to their bank to sort it, to be honest.
    I'm not looking to make any money out of the bridging. The bridging finance will be repaid via two mortgages, a residential and a buy to let.
    I have arranged those two, so will earn my income off of those.
    I am a Mortgage adviser
    You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
  • payless
    payless Posts: 6,958 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    koexelek wrote: »
    what are their timescales like though ?

    I have found recently that anything RBS = very slow

    they have a specialist dept - PM me if you want a contact
    Any posts on here are for information and discussion purposes only and shouldn't be seen as (financial) advice.
  • koexelek
    koexelek Posts: 7,847 Forumite
    payless wrote: »
    they have a specialist dept - PM me if you want a contact

    Thanks for that, I will if I need to.

    The mortgage offer is finally out now though, so I'm hoping Bridging won't now be needed.

    I'll bear that in mind for future reference though
    I am a Mortgage adviser
    You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
  • minimike2
    minimike2 Posts: 2,210 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    Was just coming to ask if you have it sorted or not as I am currently arranging something considerably higher at 100% which looks as if it will be do-able. If things dont go as planned and you still need it then PM me and I will give you details.
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