Bridging Loans in Birmingham
GPS financial are award winning brokers with expert knowledge in property finance and arranging bridging loans in Birmingham. We have years of experience helping businesses and individuals raise capital for property purchases and projects throughout the country.
Bridging loans are ideal for bridging the gap between raising traditional finance and a purchase or project.
Whether you’re raising a mortgage, awaiting a sale or something else, GPS Financial ensures you don’t miss out on opportunities.
In a market that moves as quickly as property, speed is key. That’s where bridging loans come in.
Birmingham bridging loans are available to individuals and companies to purchase residential or commercial properties throughout the UK.
Birmingham Bridging Loans
Bridging loans can be used for a number of purposes. They are secured on your property just like a mortgage but will have a much shorter term.
Closed bridging loans have set repayment dates while open bridging loans have a repayment period.
Both can help you buy the property you need.
To purchase property at auction – If you need fast cash to purchase a property at auction while you raise capital in other ways, a bridging loan can help.
To finance a development – If you need to develop a property so it qualifies for a mortgage, a bridging loan can help.
To make a purchase before a sale – If you need to purchase fast while other properties are still within the sales process, a bridging loan can help.
To support a chain break – If a property chain breaks but you want to complete your purchase, a bridging loan can help.
What is a Bridging Loan?
A bridging loan is a type of short-term funding that helps bridge the gap between when you want to purchase a property. Bridge loans, or bridge finance, are short-term loans which provide the necessary finance to purchase property quickly.
For example, if you were looking to buy a property in Birmingham or the wider West Midlands area, a bridging loan could help you secure your property purchase at auction or from a developer before taking out a mortgage.
A lender will usually agree on the amount of short-term finance required and this can be calculated using an online bridging loan calculator.
The Financial Conduct Authority regulates these types of loans, however there are some risks associated with them such as fluctuations in interest rates and the sale of the property not going through.
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Types of Bridging Finance available in Birmingham
Birmingham has a variety of bridging finance options available for both residential and commercial properties.
Bridge loans are a type of bridging finance that is used to purchase or secure a mortgage on a property in the short term.
GPS Financial provides competitive rates and flexible repayment plans to suit your budget.
Commercial bridging is also available for those who require funding for purchasing or refinancing commercial properties.
We offer an initial consultation where we can discuss the best way for you to get the finance you need.
Our experienced team can provide advice and guidance on the various types of bridging finance available, so contact us today to arrange your consultation.
Bridging Loans can be used for:
Bridging loans can be a great short-term financial solution for those looking to purchase a property quickly before it is snapped up by another buyer.
Bridging Loans can be used for a number of circumstances including:
- Commercial Bridging Loans
- Bridging Loan Property Purchase
- Bridging Loan for Property Development
- Regulated Bridging Loan
- Auction Bridging Finance
- Bridging for Refurbishment
- 100% Loan Top Value (LTV) Bridging Loans
These short-term loans are secured against the property you are purchasing and provide the funds you need even if you have yet sold your current home.
A lender can supply you with the necessary funds as collateral for the mortgage of your desired property.
This approach allows them to provide you with enough money to buy or improve the Birmingham property without waiting for a long time.
This is especially useful in situations where an auction property needs to be bought quickly, or if your old house falls through and the new one has already gone to auction.
With bridge loans, you can secure the property quickly before it is snapped up by another buyer – even if you haven’t had time to sell your old house first.
Frequently asked questions about Bridging Loans
Bridging loans are a type of short-term loan, which means it is ideal for clients who need quick financing in order to purchase property quickly.
Bridge loans can be secured or unsecured, depending on the terms and conditions of the lender.
Secured bridge loans usually require a mortgage on an existing residential property as collateral, while unsecured bridge loans are more common and are regulated by different lenders.
The exit strategy for this type of loan must also be determined before any agreement is made between the client and the lender.
In addition, it is usually necessary to enlist the help of a solicitor or broker to ensure that all regulations are followed in order to secure bridge finance.
Why choose GPS Financial?
The knowledgeable staff at GPS Financial can provide information and advice about the variety of bridging loan options for your project, including bridging loans for real estate development.
Due to our collaboration with various lenders – those not available on the high street, we can save you both time and effort in looking for the appropriate lender that meets your loan amount and cash flow requirements.
We will strive to assist you in keeping your costs down by discovering the most economical interest rates for your bridging loan, taking into account any arrangement fees.
In addition to getting the right product, we make sure you have a logical way out and a plan to finance the finished property if necessary.
GPS Financial is an award-winning property finance specialist, taking home the award for Best Firm: Bridging & Commercial in 2022, selected by Dynamo for Intermediaries, one of the country’s foremost Mortgage Clubs.
If you’re considering a bridging loan in Birmingham, contact GPS Financial today, fill out the contact form at the top of the page and one of our expert advisors will get back to you.