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Bridge Finance

Elate will establish affiliated companies that will offer mortgage products, title services, insurance products to consumers in Ohio, Kentucky, Indiana and Arkansas

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For property purchases, renovations, land acquisitions, or negotiating property chains, Bridge finance provides fast, flexible money. Perfect for situations like auctions or renovations when speed is absolutely vital, these short-term loans offer customised solutions with choices like fixed or variable rates and open or closed terms. We at A Mortgage Shop will assist you in finding the correct bridge loan to fit your requirements.

Flexible, Short-Term Funding Solutions for Every Scenario

Bridge finance is a short-term loan designed to "bridge" a gap in funding, offering quick access to capital when other forms of finance aren’t immediately available. These loans are ideal for those needing fast financing, whether it's for property purchases or renovations.

Common Uses for Bridge Loans

  • Property Auctions: Bridge loans are perfect for buying property at auction, where quick funds are necessary. You can secure financing swiftly, even pre-arranging terms before identifying a specific property.
  • Renovations: For properties needing significant refurbishment or those currently unmortgageable (e.g., lacking a kitchen or bathroom), bridge loans offer the funds needed to make repairs, making them suitable for future mortgage applications.
  • Land Purchase: A bridge loan can help you secure land at auction or fund initial stages of a development project before longer-term finance is in place.
  • Property Chains: If a sale falls through in a property chain, bridging finance ensures you can proceed with a new property purchase while waiting for the sale of your old home.

Types of Bridging Loans

  • First Charge & Second Charge: A first charge bridge loan is the primary loan against your property, while a second charge is a secondary loan when a mortgage already exists.
  • Fixed or Variable Interest Rates: Most bridging loans come with fixed interest rates for predictability, but variable options are also available.
  • Open Bridge Loan:
    Provides flexibility with no fixed repayment date, suitable if your repayment plan is uncertain.
  • Closed Bridge Loan: Has a fixed repayment date, often available at lower rates and best if you have a defined exit strategy.
  • Specialist Finance: HMO (House in Multiple Occupation) **Tailored Mortgages for HMO Investors

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