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A bridging loan broker is invaluable in ensuring you find the right borrowing at the right time and the right price!
Bridging finance is a hugely flexible option and can be a solution in many situations, for example:
However, there is a vast array of products available, and you must choose the one that is right for you. Bridging finance brokers don't only ensure you get the capital you need as quickly as possible - but negotiate the terms and fees associated to save you money.
Here we'll explain how to find the best bridging loan with a tailored consultation from the experts.
For further information about finding a competitive bridging loan or why it's inadvisable to go it alone, give the Revolution team a call on 0330 304 3040, or drop us a message at firstname.lastname@example.org
While a property bridging loan might be the easiest solution to finance a development, purchase, or investment, speed mustn't become a priority over affordability.
The challenge here is securing the best bridging loan interest rates, but doing so under time pressure - so having an expert on property bridging loans to hand is crucial.
As interest in flexible financing and mortgage alternatives grows, so does the number of bridging loan products on the market.
Making an intelligent choice quickly isn't a decision to be taken lightly. The wrong property bridging loan could cost thousands of pounds more than it needs to!
Independent bridging loan experts can help to navigate the breadth of choice on offer, and ensure you get the advice you need to make informed judgments.
Our role is to consult you to determine what financing you need, when, for how long, and for what purpose.
From there, we scour the sector as a whole-of-market bridging finance broker to identify the most beneficial products and rates available.
Consulting a bank, or your usual lender, unfortunately, can't be as secure a service.
These advisers are bound by the specific products they offer or advertise, so they cannot compare more attractive deals or provide an alternative solution outside of their product list.
As independent bridging loan brokers, mortgage brokers negotiate with the lender directly - whether that's to haggle on the rates, extend the term end date, or discuss a complex application to ensure all the details are dealt with.
We work for you to make sure your bridging loan is the best possible deal out there.
Not at all - you can choose to make your own decisions about which bridging loan is the best option. However, broker-exclusive deals are almost always better than anything you'll find on the open market.
Likewise, lenders may advertise some products and rates but cannot offer their lowest terms depending on the circumstances.
In these situations, your bridging finance brokers get to work, identifying other cheaper products or negotiating with the provider to come to a compromise in your favour.
There are several reasons we'd always recommend using a bridging loan broker:
So, if you're unsure whether using a broker to find the best bridging loan products is the right call, we'll run through the advantages and disadvantages.
Benefits of Working With Bridging Finance Brokers
We'd be remiss not to mention disadvantages - but there are very few!
Fees are usually one of the most significant barriers to investors or buyers seeking independent advice.
Unfortunately, that inevitably means spending thousands more on high arrangement fees or steeper interest charges than necessary.
Some brokers can charge significant fees, but Revolution provides a fully transparent service, so you know upfront whether there are likely to be charges payable or whether the lender covers your bridging loan brokerage services.
Be wary of any bridging finance brokers who won't share their fee schedule - that usually means you're in for a nasty surprise later down the line!
The other factor to think about is the quality of your bridging loan adviser. An inexperienced broker can make things more complicated or fail to have the negotiating power to secure a competitive deal.
Revolution Brokers are proud to be experts in the bridging finance field, with years of experience negotiating even complex deals. So you're assured of robust representation no matter the size of the bridging loan you need.
So, your choice of lender will be influenced by many factors:
All of these factors mean it's usually highly inadvisable to apply for the first bridging loan you find - the best bridging loan will be tailored to your needs and be far more cost-effective than a generic product.
It's tricky to give an exact value - because property bridging loans are always arranged on a case-by-case basis!
For example, you might need a bridging loan to:
Each project is likely to be unique, and the amount of professional guidance and application support varies considerably.
However, it is undoubtedly more cost-effective to work with an independent, whole-of-market bridging finance broker than to attempt to manage the application process yourself.
Even simple negotiations on flexible end of term dates or lowering the interest charged by a few percentage points can make a tremendous difference to your total project outlay and far outweigh any of the initial broker's fees to put the deal in place.
Indeed we can! The exit strategy is a fundamental requirement for any property bridging loan.
The borrowing is short-term, so the lender must be confident you have a robust plan to pay them back when the loan ends, usually within a year or 18 months.
Exit strategies for property bridging loans can include:
Those are some of the typical exit strategies but by no means an exhaustive list.
Again, a bridging finance broker is vital. We'll evaluate your exit strategy and compare it to our insights into the lender's policies to determine whether it's likely to pass the assessment process.
If not, we can recommend a range of options:
If you're unsure whether a property bridging loan is a suitable solution or want to compare the pros and cons of different home loan products on the market, give Revolution Brokers a call on 0330 304 3040. You can also email the team at email@example.com.
While bridging loan finance can be an excellent option if you need flexible borrowing in a brief timeframe, it is one of many financial products on the property lending market.
Our independent team of bridging loan brokers will ask for information about your property plans and provide advice based on our experience regarding the ideal product, or the best bridging loan, that fits with your needs.
You don't need to be ready to buy and can arrange a bridging loan in principle.
For example, if you're keen to attend a property auction and think you may bid for a lot, you can organise a bridging loan in advance, and then rest assured that you won't struggle to meet the 28-day payment deadline if you place the winning bid.
The easiest way to get started is to call or email the team, and we'll arrange a convenient time to chat with one of our bridging finance brokers.
If you'd like any information about property bridging loans, again get in touch, and Revolution Brokers will help you make significant decisions and find the best bridging loan products for you.
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The content included in our articles, blogs, web pages and news publications is based on information accurate at the time of writing. Note that policies and criteria can change regularly throughout the UK mortgage lending market, and it remains essential to contact the consultation team to receive up to date guidance. The information included on the Revolution Brokers site is not bespoke to any circumstances or individual application scenarios and therefore is not intended to be used as financial advice. The content we share is designed to be informative and helpful but cannot be relied upon to provide individual advice relevant to your mortgage requirements. All Revolution team members are fully qualified, trained and experienced to provide mortgage advice of an independent nature. We collaborate with lenders and providers who are regulated, authorised and registered with the Financial Conduct Authority (FCA). Should you require specific mortgage borrowing types, some products such as buy to let mortgages may not be FCA regulated. The Revolution team can provide further information about regulated and unregulated lending as required. Please remember that a mortgage is a debt which is secured against your home or property. Your home can be at risk of repossession if you do not keep up with the repayments or encounter any other difficulties in managing your mortgage borrowing responsibly. This also applies to any remortgage or home loan secured against your property, including equity release products.
Revolution Brokers understands that mortgages can be complex and confusing!
Ask us any question you might have, and one of our skilled consultants will come back to you as quickly as possible.