Clifton Mortgage Solutions

Home

Secured Loans

Bridging Finance

Commercial Lending

Intermediaries

Useful Links

Our Lending Panel

Meet the Team

Testimonials

Contact Us

Bridging Finance

This is one of the fastest-growing areas of secured finance. Bridging loans are appropriate in many circumstances such as buying at auction, or when there is a time-sensitive transaction where speedy finance is needed - or when the property is in a poor state of repair, the improvements can be carried out and a long-term mortgage arranged to replace it.

We can finance those who are employed or self-employed, as well as those with impaired credit, over either open or closed bridging.

An "open" bridge is generally arranged by buyers who have found their new property but have not yet sold their current residence, hence the term is open. Lenders generally insist on there being plenty of equity in the current property, and they tend to ask for more supporting documentation in terms of proof of income and bank statements. Interest rates tend to be higher on this form of bridging as there is more risk for the lender, and costs will be generally higher.

A "closed" bridge is generally used for a specific period of time and when there is a specific exit date for the loan. This may be used where lenders have placed a full retention on a property, pending specific works carried out - in these circumstances you can take out bridging finance to fund the purchase until repairs have been undertaken, and then once a re-inspection has taken place the bridging finance will be replaced by the mortgage.

* These transactions are not regulated by the FSA.

Clifton Mortgage Solutions Ltd is an Appointed Representative of Financial Ltd (FSA Number 188153), which is Authorised and Regulated by the Financial Services Authority.
©Copyright Clifton Mortgage Solutions Ltd - All Rights Reserved
The Company's Registered address is 14 Alma Vale Road, Clifton, Bristol, BS8 2HY. Company Registration number is 6311245.
No investment decision should be taken based on the content of this site. Always take full individual advice first. The regulations governing tax rates and investments may change in the future. Your home may be at risk if you do not maintain repayments on a mortgage or other loan secured on it. The information contained in this website is subject to UK regulatory regime and is therefore restricted to consumers based in the UK.



Home Secured Loans Bridging Finance Commercial Lending Intermediaries Useful Links Our Lending Panel Meet the Team Testimonials Contact Us	Bridging Finance This is one of the fastest-growing areas of secured finance. Bridging loans are appropriate in many circumstances such as buying at auction, or when there is a time-sensitive transaction where speedy finance is needed - or when the property is in a poor state of repair, the improvements can be carried out and a long-term mortgage arranged to replace it. We can finance those who are employed or self-employed, as well as those with impaired credit, over either open or closed bridging. An "open" bridge is generally arranged by buyers who have found their new property but have not yet sold their current residence, hence the term is open. Lenders generally insist on there being plenty of equity in the current property, and they tend to ask for more supporting documentation in terms of proof of income and bank statements. Interest rates tend to be higher on this form of bridging as there is more risk for the lender, and costs will be generally higher. A "closed" bridge is generally used for a specific period of time and when there is a specific exit date for the loan. This may be used where lenders have placed a full retention on a property, pending specific works carried out - in these circumstances you can take out bridging finance to fund the purchase until repairs have been undertaken, and then once a re-inspection has taken place the bridging finance will be replaced by the mortgage. * These transactions are not regulated by the FSA.
	Clifton Mortgage Solutions Ltd is an Appointed Representative of Financial Ltd (FSA Number 188153), which is Authorised and Regulated by the Financial Services Authority. ©Copyright Clifton Mortgage Solutions Ltd - All Rights Reserved The Company's Registered address is 14 Alma Vale Road, Clifton, Bristol, BS8 2HY. Company Registration number is 6311245. No investment decision should be taken based on the content of this site. Always take full individual advice first. The regulations governing tax rates and investments may change in the future. Your home may be at risk if you do not maintain repayments on a mortgage or other loan secured on it. The information contained in this website is subject to UK regulatory regime and is therefore restricted to consumers based in the UK.