What is a bridging loan exit strategy?
An exit strategy is the way you will eventually repay your bridging loan. A strong “exit strategy” is vital in order to successfully apply for a bridging loan or development loan.
These types of finance are short term by design and so you need a way of paying them back, all in one go. Having a solid and realistic exit strategy will help to get the lenders on your side.
The exit strategy should be realistic and credible enough to convince lenders that it can reliably be used to repay the bridging loan. At the end of the loan term, you are expected to repay the bridging loan in full, including any fees and accrued interest.
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 perfectly placed to help you find a buy to let mortgage solution that matches your property needs for individuals, families, investors, landlords and Limited Companies.
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.
Our holiday let mortgage brokers know the lenders and their lending criteria well, enabling us to guide you to the best holiday let mortgage solutions
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.
Development finance is designed to help with the purchase and build costs for a residential development project.
Solutions are available for change of use, ground-up projects, refurbishment or major building work and property extensions.