Up until recently the answer, to the question ‘Can you finance an existing bridging loan’ was ‘no’. However, some lenders are now prepared to offer loans to refinance a bridging loan. These are
People who are struggling to sell their home may be tempted to rent it out for a while. Many mortgages have conditions that disallow renting, which means that homeowners need to
Fluctuating prices, subsidy changes and ongoing Brexit negotiations mean that farmers are unable to predict their future income. To spread their risk, many in the agricultural sector are diversifying by
The latest figures released by the Association of Short Term Lenders (ASTL), showed that the annual value of completed bridging loans is £3.8bn– a 29.9% increase year on year. These figures include the
When you apply for a bridging loan, the lender will want to see a detailed exit strategy. This is a plan for when you can repay the loan and how you will raise the funds for this. Without a good exit strategy, the bridging loan application will
Most businesses have to pay tax. Every quarter, there is a VAT bill and there is an annual tax bill based on the profits the business makes. If a business struggles to pay a tax bill, a bridging loan can
If you fall behind with your mortgage payments, the bank or building society from which you obtained your mortgage from could repossess your home. A bridging loan can be used to avoid repossession and provide breathing space for
Many people find that they cannot get a mortgage from a high street bank for their dream home. This is not because of their financial situation, but due to the type of house being purchased. A thatched cottage sounds ideal, but
Bridging finance is a flexible way of raising short-term capital, but like all loans, there are risks involved. Borrowers need to be aware of these risks, and plan accordingly.
New rules mean that landlords are prevented from issuing new leases for commercial buildings that have not achieved at least an Energy Performance Certificate (EPC) of E. In some cases, it can cost a lot to improve energy efficiency, but landlords may be able to remortgage their property to finance energy efficiency work. To achieve...
