Harrogate Bridging Loans
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Bridging Loans in Harrogate
In a fiercely competitive property market, speed is key when it comes to financing. Bridging loans can mean the difference between securing the perfect property and missing out.
GPS Financial are award-winning bridging loan brokers with extensive experience in the property market. As award-winning brokers, we help individuals and businesses secure competitive bridging finance.
Whether you’re buying a residential or commercial property, if you need fast finance to seal the deal, GPS Financial can help.
When you want a Harrogate bridging loan, contact our expert team today to discuss your needs.
What is a Bridging Loan?
A bridging loan is a short-term finance solution that ‘bridges’ the gap in your funds to purchase a property quickly.
For example, if you need to secure a property purchase at auction in Harrogate, you can use a bridging loan to access fast finance to complete the purchase and pay it off with the proceeds from your sale.
If you’re a developer, you could use a bridging loan to develop a derelict property to the point it would qualify for a standard mortgage.
If you’re a landlord, you could use a bridging loan to buy a new investment property while you raise finance by other means.
With the speed of the local property market, scheduling a sale and a purchase at the same time is much harder than it used to be.
That’s where a Harrogate bridging loan comes in useful.
There are two types of bridging loans you should know about: open and closed.
- An open bridging loan has a repayment period, a set amount of time that you need to repay the loan by.
- A closed bridging loan has a set repayment date when the loan will need to be repaid.
There is no ‘best’ option, just the option that meets your needs and is right for your situation and circumstances.
GPS Financial can help advise on the best finance option, from loan selection to eligibility checks and all the paperwork.
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Giving you peace of mind while you sit back and let us do all the work for you while finding you the best deal for your financial situation.
Harrogate Bridging Loans
With GPS Financial, Harrogate bridging loans are available from 60-85% LTV for periods of 6 to 18 months. You could borrow anywhere between £25,000 and £25 million at very competitive rates.
Bridging loans in Harrogate can be used in a number of ways, including:
- Commercial Bridging Loans
- Bridging Loan for Property Purchase
- Bridging Loan for Property Development
- Auction Bridging Finance
- Bridging for Refurbishment
- Second Charge Bridging Loans
- VAT Bridging Loans
- Large Bridging Loans
GPS Financial can help secure Harrogate bridging loans for both commercial and residential purposes.
What can Bridging Loans be used for?
Harrogate bridging loans can be used for almost any property purchase, residential or commercial.
Bridging loans are often used to:
- Support a broken property chain – If your chain collapses, you can use a bridging loan to complete your part of the chain so you don’t lose out.
- Property purchases where time is an issue – If you need to complete a property purchase quickly to avoid losing out, a bridging loan could be a faster solution to a traditional mortgage.
- Purchase a property at auction – Bridging loans are often used to secure an auction property while you arrange a residential mortgage.
- Finance development or refurbishment – If a property doesn’t qualify for a standard mortgage, you can use a bridging loan to develop it until it does.
- Solve cash flow situations – Bridging loans can be used by landlords or businesses for tax, probate or other requirements.
As long as you can prove you have the means to make the repayments and have a viable exit strategy to repay the loan, GPS Financial can help you secure one.
Harrogate Bridging Loans with GPS Financial
GPS Financial are industry leading property finance specialists with extensive experience in helping clients secure bridging loans in Harrogate.
We have access to a wide pool of lenders not available on the high street or over the internet, allowing us to source Harrogate bridging loans at competitive rates and favourable terms that meet your needs.
We understand the importance of speed when it comes to bridging loans. We do everything we can to quickly secure the right bridging loan for your circumstances, and we manage most of the process so you don’t have to.
If you’re considering a Harrogate bridging loan, contact GPS Financial today for a free, no-obligation chat with a qualified advisor.
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