Can I get a bridging loan for BTL?
Yes it is possible to get a bridging loan for a buy to let.
Due to the flexibility of bridging loans the way they can be used is quite varied. For a buy to let property you could use bridging finance to:
PURCHASE A PROPERTY QUICKLY – Bridging loans can be used to purchase an investment property with the minimum of fuss. It could then be remortgaged to a cheaper buy to let remortgage.
CAPITAL RAISE – Use a bridging loan to quickly extract equity from an investment property. This could be used for essential works or to help extend the portfolio until more permanent finance can be arranged.
AUCTION PURCHASE – When buying at auction many of the properties will be unmortgageable but for all you will need to pay for them within 28 days. This does not suit a standard mortgage but bridging lenders will accept these.
HOW CAN WE HELP?
Choosing a mortgage is an important financial decision and it’s easier with someone who’s on your side. We work as a whole of market mortgage broker so that you get the best possible choice of mortgages.
DRAKE MORTGAGES ARE EXPERT BUY TO LET MORTGAGE BROKERS
We are experienced whole of market brokers who can help you get a great holiday let mortgage.
We can also give you access to exclusive schemes and some specialist lenders who don’t deal direct with borrowers. Loans are available to individuals and SPV’s upto 75% and we can help with Scottish properties, mixed use, multi-lets and Airbnb.
Bridging loans are one of the most useful, multi-purpose, types of lending solutions available. You can get a bridging loan approved on almost any property for almost any reason. Great for auction purchases or snapping up a buy to let bargain.
And we can arrange them really fast.