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Bridging Loans

flat599
flat599 Posts: 12 Forumite
Who offers the best bridging loans.
I am interested in buying a property @ auction.
Anyone here ever done so?
ALL TIPS WOULD BE APPRECIATED.:confused:

Comments

  • homer_j_3
    homer_j_3 Posts: 3,266 Forumite
    Have you done any research into this?

    How do you intend to pay the loan back?
    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.
  • so far seems to be an interesting player in offering bridging loans http://www.securedloanadviceuk.co.uk/bridging-loans.html
  • happybroker
    happybroker Posts: 1,301 Forumite
    seek profesional advice is my tip. Ask friends and family if they can recommend a quality whole of market broker.

    bridging can be great but can also be very expensive if you don't structure it properly.
    Happily an ex mortgage broker!
  • homer_j_3
    homer_j_3 Posts: 3,266 Forumite
    Also, with no real lenders out there doing back to back remortgages unless its at the price you paid for it at auction, you may find yourself a little stuck.
    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.
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