bridging loan

theGrinch

can anyone suggest a good bridging loan company for a property purchase?
thanks

payless

As I usually manage to get non- simultaneous mortgages agreed rather than needing bridges, its not something I get much experience in, but their are a lot of "finance companies" offering silly rates, I find the high street banks offer lowest rates ( LloydsTSB quote low rates on their website) - if you meet their stricter criteria

martinhp

agree with that, I also use lenders (with loopsholes and no tie in's) To bridge clients purchase, I have a few going through at the moment.
A lot cheaper than bridging( this can be 1% for every 30days and something like 10% -12% apr with a 3 month tie in... very nasty )

Finishrich

"I also use lenders (with loopsholes and no tie in's) To bridge clients purchase,"

Without sounding stupid can you maybe expand on this one. MIL is likely to need some sort of bridge for approx 1 month. She's selling a bigger house with a very small mortgage to move into a smaller house with no mortgage, but the purchase will probably complete 1 months before the sale of her current house. She's in Scotland if that makes any difference.

I Have absolutly no knowlege of this briding thing and would appreicate some help, thanks.