Getting bridging finance
Get the inside scoop on bridging finance and secure your next property investment.
Discover the possibilities with our comprehensive guide on bridging finance!
Bridging finance or mortgage is a short-term loan that helps you bridge the gap between purchasing and selling a property. You may need bridging financing if you’re trying to buy a new home but haven’t yet sold your old one or if the funds from the sale won’t be available until the new purchase is completed. Loans are typically repaid when the original property is sold, and you are able to secure a mortgage on the new property.
There are two types of bridging finance:
Closed bridging: Loans having a confirmed “exit strategy” (i.e., a workable plan) for repayment are known as closed bridging loans. For this to work, the borrower needs to have found a buyer for their current property and have signed a contract with him or her.
Open bridging: Loans that do not have any “exit strategy” the borrower needs money to buy a new house but doesn’t yet have a buyer lined up for their old one. No one can say for sure that a property will be sold within a fair amount of time, which puts both the lender and the borrower at a high level of risk. Interest rates for open bridging are higher than for closed bridging because of the additional risk.
When you are looking to buy a property, it is important that you have the right amount of money for the purchase. It is also important to know what type of mortgage you can get in order to ensure that you can borrow as much as possible.
A bridging mortgage is one that lasts for a shorter period than a standard mortgage and allows borrowers to borrow more money than they would with a standard loan. With bridging mortgages, borrowers can often borrow more than they would be able to do with an ordinary loan – up to 100% of the purchase price.
Bridging loans are a type of loan that is typically used to finance the gap between the sale of an asset and the receipt of funds from the sale.
There are many advantages to using bridging loans, such as-
A bridging loan can be expensive, but it can also be cheaper than refinancing your home. The costs vary depending on how much you borrow and what type of loan you get.
The cost of a bridging loan depends on the amount borrowed, the interest rate, and the length of time for which you borrow it for.
With a bridging mortgage, you can use the money you borrow on the purchase of your home and repay it over a shorter period of time than with other types of loans.
There are several alternatives to bridging mortgages that people can use instead. These include equity release, home loans, buy to let remortgaging and self-funding.
Count Ready offers tailored advice on bridging loans. We understand your financial situation and can quickly match the best possible loan to it.
Quality of service: Count Ready has a team of mortgage professionals who offer personalised service to customers. We also have brokers on hand who are ready to walk you through the process of getting your loan and provide you with all the information needed to make an informed decision.
An easy way out: At Count Ready, we strive to make things as easy as possible for our clients. That’s why our process is so easy and assisted by a team of experienced brokers who will help guide you through the process.
We’re bridging finance brokers and offer the best bridge loan, so you can get the house of your dreams without breaking the bank.
Count Ready bridges the gap between your new home mortgage and your current mortgage, giving you access to better interest rates and a lower monthly payment.
Get more out of your home loan
Our company’s mission is to make sure that people get the most out of their home loans by bridging them with our hands-on service. Our services are provided by licensed brokers, which means that they can provide you with the information you need in order to make a decision on making an investment in your future.
Best bridge loans
We offer one of the most competitive bridge loans in the market today. With our special finance package, you’ll be able to enjoy a low monthly payment while still getting access to high-interest rates. With this package, you’ll also be provided with other services for free!
We are a hybrid mortgage broker and protection adviser. However, we want to make it clear that we do not have physical branch offices everywhere in the UK. You can get our services over the phone, online, and face-to-face in some circumstances.
Please keep in mind that while we may not be local to you, we may still assist you. Imagine if you had a long-term health issue that needed to be addressed. Would you rather have the person who is closest to you or the person who is the best? Now is the moment to put that critical thinking to work in your search.
Legal
Count Ready Limited is registered in England and Wales, No: 10283205. Registered Address: Unit 10, Robjohns House, Navigation Road, Chelmsford, England, CM2 6ND.
Count Ready Limited is an Appointed Representative of Connect IFA Limited 441505 which is Authorised and Regulated by the Financial Conduct Authority and is entered on the Financial Services Register (https://register.fca.org.uk/s/) under reference: 976111.
The FCA do not regulate some forms of Business Buy to Let Mortgages and Commercial Mortgages to Limited Companies.
The information contained within this website is subject on the UK regulatory regime and is therefore targeted at consumers based in the UK.
We usually charge fees of £595 on offer, but we will agree to our fees with you before we undertake any chargeable work. We will also be paid by commission from the lender.
Commission disclosure: We are a credit broker and not a lender. We have access to an extensive range of lenders. Once we have assessed your needs, we will recommend a lender(s) that provides suitable products to meet your personal circumstances and requirements, though you are not obliged to take our advice or recommendation. Whichever lender we introduce you to, we will typically receive commission from them after completion of the transaction. The amount of commission we receive will normally be a fixed percentage of the amount you borrow from the lender. Commission paid to us may vary in amount depending on the lender and product. The lenders we work with pay commission at different rates. However, the amount of commission that we receive from a lender does not have an effect on the amount that you pay to that lender under your credit agreement.
Disclaimer: All content on the Count Ready website can only ever provide general information and does not constitute financial advice. For this reason, we always recommend that you speak to authorised advisers for your needs. (Please be aware that by clicking onto any outbound links you are leaving the www.countready.co.uk. Please note that neither Count Ready or Connect IFA are responsible for the accuracy of the information contained within the linked site(s) accessible from this website.)
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