What can a bridging loan be used for?
Bridging loans are a type of short term secured mortgage. They can be used to borrow against almost any residential, buy to let or commercial property.
They are an extremely flexible type of loan which can be used for almost any purpose. Some examples are:
- Property chain break
- Auction property purchase
- Business funding
- Cashflow problems
- Property purchase
- Short lease properties
- Meeting financial deadlines
- Property developments
- Paying probate costs
- Refurbishment projects
- Purchase unmortgageable properties
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.