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Why Choose Us

0 %
5-star reviews on Google
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years we have been as independent mortgage and protection brokers
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customer satisfaction for finding the best deals on the UK market
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total donated to various charities

Why Choose Ascot Mortgages

0 %
5-star reviews on Google
£ 0
total donated to various charities
0
years we have been as independent mortgage and protection brokers
0 %
customer satisfaction for finding the best deals on the UK market

What Our Clients Say About Us

5.0 Based on 135 reviews from review us onNicholas S. ★★★★★ Fantastic service. Ellie and Jardelle were always quick to reply to any queries and very helpful throughout the process. Highly recommend!Stacey S. ★★★★★ Jason was brilliant to work with! Always on top of the transaction! Would highly recommend 👍Scott ★★★★★ Although I've not bought anything yet, they (Jason in particular) have been super helpful in my search for the right mortgage deal, whilst also giving an honest opinion during these difficult times. Would highly recommend.Sandra I. ★★★★★ Fantastic from start to finish! Natalia and Jason found me the best rate for my remortgage and they were extremely efficient! Best service I’ve ever received from a brokerage company. Thanks so much.Virmantas N. ★★★★★ Amazing service and great communication. Ellie Morgan had quickly completed all requests and over delivered all expectations.Highly recommended for those who want to get the stuff done without any delays!David W. ★★★★★ I have used ascot for 3 renewals since they done helped me with my purchase which was complicated and will continue to use them going forward. Very fair prices and very helpful and knowledgeable even with just general information.Adam B. ★★★★★ Natalia made life very easy for us when remortgaging. Third time using ascot always a breezeTaff G. ★★★★★ Ascot Mortgages have been brilliant. Easy to work with and incredibly helpful. I am always happy to recommend them. Natalia and Jason have made the whole process much easier than I was expecting. Excellent service.Daryl L. ★★★★★ We've had a fantastic experience with Natalia Barry and Jason Jones at Ascot Mortgages for our property purchases and refinancing. Their expertise, coupled with genuine care and understanding of our needs, made the process smooth and stress-free.They were consistently communicative, keeping us informed at every step. Their assistance in consolidating our protection cover was invaluable, simplifying what could have been a complex process.What set them apart was their personal touch – always polite and ready to pick up the phone for a chat. This level of personal engagement is rare and much appreciated.In short, Natalia and Jason are not just skilled professionals but also truly dedicated to their clients. We highly recommend their services to anyone in need of mortgage advice.Jason J. ★★★★★ Great company!Sarah A. ★★★★★ I have used this firm for several years and they have always been super helpful and supportive, attentive and resolved issues in really useful ways. Shout out to Alison, Ellie and Jardelle (and the team!)Georgia W. ★★★★★ We worked with Ellie to secure our mortgage and protection, and she was a dream! Being a first time buyer, I was quite clueless about the process, and in a time where mortgage rates have been quite high, she worked right til the end to make sure we were getting our mortgage at the best possible rate and was always available to answer all questions I had. Can't recommend enough 🙂Richard D. ★★★★★ Laura S. ★★★★★ As a first time buyer, trying to navigate through potential mortgages was a very daunting thought. Ascot Mortgages were recommended to me and I've been extremely happy with the service provided. They have guided me through every step and I finally have a mortgage. Very pleased and would recommend.Lucy B. ★★★★★ Having Phil as my mortgage advisor was great from the very start! He is down to earth and speaking to him was always a pleasure. The kindness, compassion and support I have been given all the way through what can be a stressful process was immeasurable. Phil and Jardelle worked as a solid team and was able to make me feel at ease all the way through buying my first home. The team were always available and the communication between everyone was always clear and I felt safe in the hands of the company as a whole. Thank you for helping me buy my first home!Flora R. ★★★★★ I worked with Richard (Protection Adviser) for a couple of days to sort out life and critical illness insurance. Absolutely brilliant, he found me and my husband the perfect policy. Very knowledgeable and easy to get on, he definetely makes things easy to understand. Thank you for the great service provided.Matthew R. ★★★★★ I've dealt with Phil at Ascot Mortgages for a while now and Phil always comes back back to me with the right plan.Keep the good work up!rafal W. ★★★★★ I would thoroughly recommend Phil Greenwood at Ascot Mortgages ltd to anyone looking to seek advice on purchasing a home.Phil was absolutely fantastic. He made the process very smooth and easy and was always there to answer any questions I had.Shahid L. ★★★★★ This company has been truly amazing in constantly giving me the support and help i need for my mortgage and for their continuous work ethic guiding customers like myself and educating them into making the best possible decisions. My special mention goes to Phil Greenwood who deserves every single credit for his brilliant work and communication skills. The more I got to work with Phil, the more he gained my respect as he is a hugely likeable man and possibly the best mortgage advisor yet. Even after I finished my time with Ascot Mortgages, I will never lose my trust in the company and I hope they exceed their business and gain even more success and popularity.Best wishes,Shahid Latif and familyPretty L. ★★★★★ Phil helped me renew my mortgage. He was great at keeping me updated with any rate changes and secured a lower rate than at the time my mortgage went through. Thank you Ascot for your supportNikki E. ★★★★★ Huge thanks to Richard Johnson for sorting out all of my insurance policies! I had accumulated a variety of life cover and various other policies over the years that all needed a good review and refresh. Richard was extremely patient and helped me to remove the duplication and choose the best cover to suit our current needs. I have used Ascot Mortgages for over 12 years and have met several members of the team, always finding the right help and support to work through what can be a complicated and stressful time. Thanks again, Richard!Andrew T. ★★★★★ Working with Richard at Ascot has been a great experience. He listened to us and was very professional throughout. This was our first experience with Richard but we've been using Ascot now for 6-7 years. Thank you all at AscotAngie B. ★★★★★ Always give a great service and find you a mortgage in a timely fashion.Alison is awesomeAndrew M. ★★★★★ We have used Ascot Mortgages for over 5 years now and have had excellent service throughout, primarily with Alison and Kevin. Our latest dealings have been with Richard Johnson who although new to us (and to Ascot I believe) has once again provided the 5 star level of service we have come to expect. His product knowledge is excellent offering a range of options supported with consistent communication and updates, always available on the phone or on email every step of the way.Ali H ★★★★★ Excellent service, a big thanks to Natalia Barry for her excellent support with my buy to let mortgage application, Natalia was professional, transparent, and kept me informed during all the process, and thanks to Jason jones for his assistance and support.js_loader

In the UK financial landscape, bridging loans have carved a distinctive niche, providing swift financial solutions in situations where traditional financial avenues might not be viable. As an experienced Bridging Finance Advisor, I am here to delve deep into the intricacies of this financial instrument, shedding light on its potential benefits and how you can leverage it in your property pursuits.

What Is A Bridging Loan?

A bridging loan, essentially a short-term loan, acts as a bridge to cover an immediate cash need in anticipation of a future guaranteed payment. Typically lasting from a few weeks to a couple of years, these loans have higher bridging loan rates compared to traditional mortgages due to their short term nature. The interest on a bridging loan can be serviced monthly, rolled-up, or occasionally, deducted from the loan at the onset.

Who Are Bridging Loans for?

Primarily, bridging loans cater to property investors, developers, and sometimes, homebuyers. These borrowers find a bridging loan as a viable tool when they require rapid funding to secure a property or facilitate renovations before availing a traditional mortgage or selling another property. It is an optimal solution for those looking to bridge the financial gap quickly, albeit at a higher rate.

Types of Bridge Loans

Understanding the different categories of bridge loans is pivotal in making an informed borrowing decision. Here we explore these types:

Closed Bridging Loan

A closed bridging loan has a fixed repayment date, typically aligned with the sale of an existing property or another confirmed financial incoming. Given that there’s a clear exit strategy, lenders perceive it as less risky, potentially offering slightly lower interest rates compared to open bridging loans.

Open Bridging Loan

An open bridging loan doesn’t set a fixed repayment date, offering flexibility in repayment. However, this comes with higher interest rates as the lender faces more uncertainty regarding the repayment.

First Charge and Second Charge

First charge loans are registered first on the property, holding precedence over any subsequent loans. In contrast, a second charge is subordinate to the first charge, meaning it is repaid only after the first charge loan is fully settled.

Fixed or Variable Interest

Borrowers can choose between a fixed interest rate, offering predictability in repayments, or a variable interest rate, which fluctuates according to market dynamics.

What Can I Use a Bridge Loan for?

Bridge loans can serve multiple purposes in the real estate sector, including but not limited to:

Buying Property at Auction

With a bridge loan, you can quickly secure funds to purchase property at an auction, giving you a competitive edge in such high-paced environments.

Renovation

Bridge finance can facilitate the refurbishment or renovation of a property, allowing you to enhance its value before sale or re-mortgage.

Purchasing Land

A bridge loan is a suitable option for purchasing land swiftly, especially when you intend to develop it and sell or refinance shortly.

Fixing a Broken Property Chain

In instances where a property chain breaks, bridging finance can rescue the situation by providing the necessary funds to continue with the purchase, ensuring the chain is maintained.

Phil Greenwood

Ascot Bridging Expert

The Mysteries of Bridging Loans

What Our Expert Says...

Bridging loans, often regarded as the ‘Bridge Financing’ in the property world, offer a swift solution when traditional financing might not fit the bill. Ideal for those short-term gaps in funding, they ensure you don’t miss out on property opportunities. However, they come with their own fees and costs. It’s essential to understand the costs, terms, and conditions before diving in. I’m always here to help with the right decision, ensuring you navigate these financial tools with confidence.

How to Get a Bridging Loan

Securing a bridging loan involves approaching a lender with a well-laid plan showcasing your repayment strategy, the property details, and your financial standing. Since bridge loans cost can be high, demonstrating a robust exit strategy — such as a property sale or refinancing into a long-term loan — is vital. Employing the services of a skilled broker can facilitate a smoother process.

Is a Bridging Loan Right for Me?

Deciding on a bridging loan hinges on your financial circumstance, the urgency, and your repayment strategy. It would be best to consider the high bridging loan rates and additional fees such as valuation fee, legal fee, and potential early repayment charges before making a decision.

How to Compare Bridging Loans

Comparing bridging loans entails evaluating various loan terms, interest rates, and fees from different lenders. You should scrutinise the loan-to-value (LTV) ratio, the lender’s reputation, and the potential for hidden fees. Leveraging comparison tools and seeking advice from experienced advisors can aid in making an informed choice, helping you find a loan tailored to your needs, considering every vital aspect including the bridge loans cost and the potential for early repayment. It is imperative to pay heed to the loan’s details to strike a balance between the cost and the benefits it brings to your property venture.

Apply for a Bridging Loan

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FAQ

Typically, a bridge loan can be arranged within a few days to a couple of weeks, depending on the complexity of the loan. Our experienced team are here to help guide and advise you through the process.

While credit history is a factor, bridging loans are mainly secured against property, making it possible for individuals with bad credit to obtain one. With our expertise we can help explore your options together.

This can vary based on your circumstances and the lender’s criteria, but typically, you’d need around 25% equity in your property. If its an undervalue purchase some lenders may offer 100% lending of the purchase price.

Bridging loans can be a helpful tool when you need fast, short-term finance, but they may not be suitable for everyone due to their higher interest rates. Discuss with our helpful, knowledgeable staff to see whether this is a viable solution for you.

Alternatives could include traditional mortgages, personal loans, or specific products like development or commercial loans.

This depends on your unique financial situation, your needs, and the specific timing. Our team is on hand to help you make the best decision based on your circumstances.

Interest rates for bridging loans can vary, typically from 0.50% per month. This depends on factors such as the loan amount, term length, and your personal circumstances. Contact our experienced Advisors to help you understand what rates you might expect.

Meet Our Team

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In need of a bridging loan? Look no further than Ascot Mortgages! Our team of experts specializes in bridging finance and can provide you with a range of options. Whether you need short-term financing for a property purchase, renovation, or bridging the gap between property sales, we have the ideal solution for you. Contact Ascot Mortgages today to discuss your bridging loan requirements and secure the funds you need quickly and efficiently.

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