Fast Bridging Loans
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Why Choose Us
Why Choose Us
Navigating the property market can sometimes require swift action and immediate financial support. Here at Ascot Mortgages, we specialise in fast bridging loans that are designed to meet your urgent financial needs. Whether it’s a quick property purchase or seizing a time-sensitive investment opportunity, our fast bridging finance options are tailored to help you secure the deal.
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Written by:
Phil Greenwood
Ascot Bridging Expert
Last Updated:
07.10.2023
Written by:
Phil Greenwood
Ascot Bridging Expert
Last Updated:
07.10.2023
What are the advantages of a fast bridge loan?
Fast bridging loans come with a multitude of advantages, making them an ideal solution for various scenarios:
- Speed: One of the most significant benefits is the speed at which funds can be accessed, often within a matter of days.
- Flexibility: These loans offer flexible terms and conditions to accommodate different financial needs and property types.
- Short-Term Solution: Ideal for addressing immediate funding requirements until a more permanent financing option is secured.
- Opportunity Seizure: Enables borrowers to capitalise on time-sensitive investment opportunities.
- Property Chain Breaks: Helps in maintaining property chains by providing the necessary funds when a link in the chain is broken.
Why is a bridging loan broker useful?
A bridging loan broker, like Ascot Mortgages, plays a pivotal role in securing quick bridging loans. Here’s how:
– Expert Guidance: Brokers provide invaluable advice and guidance throughout the process, ensuring you secure the best deal.
– Market Knowledge: With comprehensive knowledge of the market, brokers can identify the most suitable lenders and negotiate favourable terms on your behalf.
– Time-saving: Brokers handle the paperwork and communication with lenders, saving you valuable time.
– Access to Exclusive Deals: Brokers often have access to exclusive loan offers not available directly to the public.
– Stress Reduction: The broker manages the complexities of the loan process, reducing stress and enhancing the overall experience.
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Should I go to a lender directly?
While approaching a lender directly is an option, using a bridging loan broker can offer additional benefits. Direct interaction may limit your access to the broader market and potentially better fast bridging finance options. Brokers, on the other hand, can:
– Present a wider range of options and lenders.
– Leverage relationships with lenders to negotiate better rates.
– Provide personalised service and tailored solutions.
– Assist with the application process and documentation.
– Offer expert advice on loan terms, fees, and interest rates.
How much can I borrow?
The amount you can borrow through fast bridging loans largely depends on the value of the security property, the lender’s criteria, and the purpose of the loan. Typically, loan-to-value (LTV) ratios range from 50% to 75% of the property’s value, but this can vary. Ascot Mortgages offers:
– Competitive LTV ratios.
– Transparent fee structures.
– Customized loan amounts based on individual needs and property values.
It’s essential to assess your repayment strategy and financial capacity when determining the loan amount.
Alison Gibson
Ascot Mortgage Expert
Remortgage
Remortgaging is applied when you keep
living in your present property while applying for another mortgage deal with a new lender. Before finding out how to remortgage and get the best offers from experts like Ascot Mortgages, you have to check meeting what parameters of the deal that can help you succeed the most. The range of background factors varies a lot — from the recently changed loan-to-value ratio or your existing agreement coming to an end.
Whether you are trying to get a more beneficial deal or searching for funding to improve your home conditions, remortgaging is one of the most advantageous scenarios to consider.
How do I apply for an urgent bridging loan?
Applying for an urgent bridging loan with Ascot Mortgages is a straightforward process:
- Initial Consultation: Discuss your financial needs, property details, and loan requirements with our expert team.
- Loan Proposal: We will develop a tailored loan proposal, outlining the loan amount, terms, fees, and interest rates.
- Documentation Submission: Provide the necessary documents for verification and assessment.
- Approval & Disbursement: Once approved, the loan amount is quickly disbursed to meet your urgent needs.
In conclusion, fast bridging loans from Ascot Mortgages are a practical solution for those in need of quick, short-term financing. Our expert team is on hand to guide you through every step of the process, ensuring you secure the funds you need promptly.
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FAQ
01/ Is there a maximum loan amount for fast bridging loans?
Yes, there is a maximum loan amount for fast bridging loans, which can vary depending on the lender and the specifics of the loan application. At Ascot Mortgages, we assess each application individually, taking into account the value of the security, the purpose of the loan, and the borrower’s repayment ability to determine the maximum loan amount, all in line with UK lending regulations.
02/ Can I use a fast bridging loan to finance commercial properties?
Absolutely, fast bridging loans can be utilised to finance commercial properties. Whether you are looking to purchase, renovate, or secure a commercial property quickly, Ascot Mortgages can provide a tailored fast bridging loan solution that aligns with your needs and complies with the relevant UK financial regulations.
03/ What happens if I cannot repay the fast bridging loan on time?
If repaying the fast bridging loan within the agreed timeframe becomes challenging, it is crucial to contact Ascot Mortgages immediately. We are committed to working collaboratively with our clients to explore possible solutions, which may include restructuring the loan or identifying alternative financing options. Any modifications or arrangements will be made in accordance with UK lending standards and regulations.
04/ Can I extend the loan term for a fast bridging loan if needed?
Extending the loan term for a fast bridging loan may be possible, depending on the circumstances surrounding the extension request. Ascot Mortgages evaluates each extension request on its individual merits, ensuring compliance with UK lending guidelines and assessing the borrower’s ability to fulfil the revised repayment terms. Should you have any additional questions or require further assistance, our expert team at Ascot Mortgages is on hand to offer guidance and support throughout the loan process.
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Legal
Ascot Mortgages authorised and regulated by the Financial Conduct Authority and can be found on the FCA register (www.fca.org.uk) under reference 776062. The FCA do not regulate some forms of mortgages. The guidance and advice contained in this website is subject to UK regulatory regime and is therefore restricted to consumers based in the UK. There may be a fee for mortgage advice. The precise amount will depend upon your circumstances but we estimate it will be £399 per mortgage account. Ascot Mortgages Ltd give you the option to pay a non-refundable fee of £879 payable with the application. If this option is taken, Ascot Mortgages Ltd will refund any procuration fee received by the lender.
Ascot Mortgages Limited is registered in England and Wales and have their registered office at 8 Webster Court, Westbrook, Warrington, WA5 8WD. The company’s registration number is 06764971.
We are a credit broker, not a lender. We work with the whole of the lending market. We may receive commissions that will vary depending on the lender, product, or other permissible factors. The nature any commissions model will be confirmed to you before you proceed.
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE
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