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| RESIDENTIAL BRIDGING MORTGAGES |
Residential bridging mortgages,
residential bridging loans,
residential bridging finance.
Specialist mortgage brokers who understand the need for a swift response.
Business bridging mortgages can
also be arranged through
specialist mortgage brokers.
A residential bridging mortgage is a type of loan that is most commonly used to cover shortfalls between buying one residential property and selling another.
A residential bridging mortgage is really just a very short term mortgage. Like a mortgage or a homeowner loan, a residential bridging mortgage is a loan that is secured against your property. But unlike a mortgage, a residential bridging mortgage can run for anything from a month to three years, and can often be arranged in a matter of days.
A typical example of when you might need a residential bridging mortgage would be if you're about to complete on the purchase of a new home but are let down by your buyer on the sale of your existing home at the last moment.
To secure your new home, before it gets put back on the open market, you could use a residential bridging mortgage to gain fast access to the required funds - funds that you were hoping to obtain from the sale of your existing property.
As well as being used to keep property purchases on track, residential bridging mortgages have various other uses.
- To fund the purchase of an overseas property.
- Temporary funding for the purchase of a defective property which would not qualify for a traditional mortgage due to its poor state of repair. Once the property has been renovated and repaired, you can then look to take out a normal mortgage to clear the residential bridging mortgage.
- To allow a business to raise money on their premises. In this way, residential bridging mortgages can be used to overcome a short-term cash flow problem.
- To fund the urgent purchase of a property, pending arrangement of a long term mortgage. This can be useful, for example, if you are buying a property at auction.
- To pay an unexpected tax bill.
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We are licensed under the Consumer Credit Act 1974 to carry on the business of consumer credit, consumer brokerage,
debt adjusting and debt counselling, credit reference agency and canvassing off trade premises. Our Consumer Credit Licence Number is 587232.
Enquiries generated via this website are passed on to Financial Advisers, Mortgage Brokers, Licensed Credit Brokers and Lenders.
Divadani Finance and Divadani Loans are trading styles of Divadani Limited.
Company registration number 5256587. VAT registration number 877 4798 45.
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