Residential Bridging Loans

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Why Choose Us

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

Why Choose Us

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

Ascot Mortgages is a prominent name in the financial sector, offering bespoke financing solutions tailored to your unique needs. A residential bridging loan is one such versatile financing option, specifically designed to meet the temporary financial needs associated with residential property transactions. Whether you’re eyeing a quick property purchase or aiming for a seamless house move, our residential bridging finance options ensure your plans remain on track.

What Our Clients Say About Us

5.0 Based on 142 reviews from review us onAreti D. ★★★★★ Absolutely thrilled with the exceptional service provided by Ascot Mortgages Ltd and especially by Natalia Barry! Even though our home purchase hasn't been completed yet, we couldn't wait to share our positive experience. From the moment we reached out, their professionalism and expertise shone through, making the daunting process of securing a mortgage a breeze.Not only did Natalia navigate the intricacies of the mortgage market with finesse, but they went above and beyond by suggesting other high-quality services, including solicitors and insurance providers. This comprehensive approach is making the entire home-buying journey seamless and stress-free.Natalia took the time to understand our unique needs and financial situation, ensuring that the options presented were tailored perfectly.Communication is prompt and clear throughout, leaving us feeling informed and confident at every stage. Natalia had our best interests at heart, going the extra mile to secure a fantastic mortgage deal.We cannot recommend Ascot Mortgages and Natalia highly enough. If you're in need of mortgage assistance, look no further. With their expertise and dedication to client satisfaction, you're in the best hands possible. A huge thank you to Natalia for making our home-buying experience a dream come true!Ashley Cox 1. ★★★★★ Would 100% recommend. Myself and my partner are currently going through the mortgage process as first time buyers. Natalia Barry has dealt with our application from day one. She has always been on hand to help, informative throughout and reliable when we have had questions. She has given us several options and broken them down into simple terms to help us. Natalia has truly been exceptional who deserves every bit of credit. We certainly got lucky having her as our first mortgage consultant.Dominik S. ★★★★★ Alison and the Ascot Team are excellent. I have used them for 5 years now and they deliver the most competitive mortgage deals fast. Just what I need. Thank you!Eric T. ★★★★★ We have dealt with Ascot Mortgages twice. Once for a mortgage about eleven years ago and recently for life insurance.In both cases we were treated with the utmost respect and professionalism.In the case of the life insurance application, we considered ourselves to be problem customers because of our age and numerous health issues.Richard Johnson, who managed this application couldn't have been more helpful.He worked in our best interest and was dedicated to providing an excellent service.We were kept up to date through all of the stages of the application and when our doctors were very slow in producing medical reports for the insurance company he persisted where others might have given up.The service we had from Richard was pleasant and professional throughout some difficult stages.My wife and I have no hesitation in recommending Ascot Mortgages.Zack R. ★★★★★ Having dealt with Ascot Mortgages and Alison for many years now I can say that you wont find a more professional, knowledgeable and efficient company to help with your mortgage. Alison is patient and makes the whole process seem easy. She has the answer to any question you have and seems to genuinely care. I can not recommend enough. I am sure I will be using Ascot Mortgages for years to come.Umair Z. ★★★★★ It has been a fantastic experience to work with both Phil and Jardelle at Ascot Mortgages to secure a mortgage product for my first home. Phil made the mortgage process smooth and easy. They are professionals and know what they are doing. Very pleased with the service and communication. would highly recommend them.Hello at NLP West M. ★★★★★ I needed a buy to let re-mortgage. Ascot were efficient from start to finish. I can recommend them completely especially because they can search the whole spectrum of mortgage lenders and meet the clients needs. never waiting for staff to get back and always kept me in the loop.Onohomen O. ★★★★★ ZHOU J. ★★★★★ It has been a brilliant experience to work with both Phil and Jardelle at Ascot Mortgages to secure a great mortgage product for our next home. Given how challenging the current market is, they have done a fantastic job to meet our needs with their expertise, professionalism and effectiveness. We would highly recommend their services to whom seeks help with their property purchase.Nicholas 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.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!js_loader

Written by:

Phil Greenwood

Ascot Bridging Expert

Last Updated:

08.10.2023

Written by:

Phil Greenwood

Ascot Bridging Expert

Last Updated:

08.10.2023

When to Consider Residential Bridging Loans

A residential bridge loan is an excellent option under several circumstances. These include:

  1. Quick Property Purchase: For securing a property swiftly when long-term financing is not immediately available.
  2. Auction Acquisitions: Winning bids often require immediate funds—this is where a bridge loan shines.
  3. Chain Break Finance: Filling financial gaps in property chains to prevent house buying from falling through.
  4. Renovation & Development: When short-term funding is needed for refurbishing or developing a residential property.

Eligibility and Application Process

Securing bridging loans for residential property is a streamlined process at Ascot Mortgages. Here’s a simplified overview of eligibility and application:

Eligibility Criteria:

  • Ownership of a property (for security)
  • Clear exit strategy
  • Proof of income (in certain cases)

Application Process:

  • Initial Consultation: Discuss your requirements and financial situation with our experts.
  • Proposal Review: We’ll assess the feasibility of your proposal and advise on the loan structure.
  • Documentation: Submit necessary documents for verification.
  • Approval & Funding: Upon successful verification, receive quick approval and access to funds.

Mortgage Repayment Calculator

Interest Rates and Fees

Understanding the cost structure is crucial when considering residential bridging finance. At Ascot Mortgages, we offer competitive interest rates and transparent fees. Here’s a breakdown:

  • Interest Rates: These are typically higher than traditional mortgages due to the short-term nature of the loan. Rates can be fixed or variable.
  • Fees: Expect to encounter arrangement fees, exit fees (if applicable), and valuation fees.

Always ensure a thorough review of the cost implications before proceeding with a bridging loan

Property Types and Usage

Residential bridging loans are versatile, catering to a variety of property types and usage scenarios:

  1. Types of Properties:

   – Houses

   – Flats/Apartments

   – Bungalows

   – Land with planning permission

  1. Usage Scenarios:

   – Buying at auction

   – Renovation projects

   – Chain break situations

   – Swift property acquisition

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.

Benefits and Risks of Residential Bridging Loans

Opting for a residential bridging loan comes with several benefits, but it’s essential to be mindful of potential risks:

Benefits:

  • Speed: Quick approval and fund disbursement.
  • Flexibility: Loans tailored to your unique requirements.
  • Short-Term Solution: Ideal for addressing immediate financial needs.

Risks:

  • Higher Costs: Interest rates and fees can be higher compared to other financing options.
  • Repayment Risks: Failure to repay can lead to property repossession.

Choosing the Right Lender

Choosing the right lender is pivotal in securing a residential bridge loan that aligns with your needs. Ascot Mortgages stands out for its:

  • Expertise: Profound knowledge of the UK bridging finance market.
  • Tailored Solutions: Bespoke loan options crafted around individual needs.
  • Transparency: Clear communication of terms, rates, and fees.
  • Customer Service: Dedicated support throughout the loan process.

In conclusion, Ascot Mortgages is your go-to destination for residential bridging loans, offering a blend of expertise, flexibility, and transparency. Navigating the complexities of bridging finance has never been easier. Contact us to discuss your needs, and let’s build a bridge to your property aspirations together.

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FAQ

Yes, having an existing mortgage on another property does not prevent you from applying for a residential bridging loan with Ascot Mortgages. Each application is assessed on an individual basis, focusing on the viability of the proposed project and your ability to meet the repayment terms.

Residential bridging loans are versatile, but they are primarily intended for short-term financing needs related to residential property, such as purchasing a new home before selling the current one, completing renovations, or resolving short-term cash flow issues. It is important to discuss your intended use of the funds with Ascot Mortgages to ensure it aligns with the loan’s purpose and complies with relevant UK regulations.

If you find yourself unable to repay the residential bridging loan within the agreed term, it is imperative that you contact Ascot Mortgages as soon as possible. We are dedicated to working with our clients to find suitable solutions, which could include restructuring the loan or exploring alternative financing options, in line with UK lending standards and regulations.

It may be possible to extend the term of your residential bridging loan, subject to an assessment of your specific circumstances and the rationale behind the extension request. Each request for an extension is considered on a case-by-case basis by Ascot Mortgages, ensuring compliance with UK lending guidelines and your ability to meet the revised repayment terms.

Yes, engaging a solicitor is necessary when obtaining a residential bridging loan, as there are several legal aspects involved, such as property conveyancing and securing the loan against the property. A solicitor will manage the legal process, ensuring all requirements under UK law are met and the interests of both parties are safeguarded.

Absolutely, residential bridging loans can be used for buy-to-let properties. Whether you are purchasing, renovating, or refinancing a buy-to-let property, Ascot Mortgages can provide a tailored bridging loan solution that meets your specific needs and complies with UK property finance regulations.

Yes, residential bridging loans are regulated in the UK when the loan is secured against a property that the borrower or their immediate family will occupy. The Financial Conduct Authority (FCA) regulates these loans to ensure that lending practices are fair, transparent, and in the best interest of the consumer. Ascot Mortgages adheres to all FCA guidelines and regulations to provide you with a secure and reliable lending service. For any further enquiries or personalised advice, our dedicated team at Ascot Mortgages is here to assist you and guide you through the application process.

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