subscribe(at)bridging4u.co.uk      +44 (759)-976-2285

A new alternative to costly bridging loans

3/24/2017 12:00:00 AM   0 Comments   bridging loans, buy to let

Several lenders are offering one-year mortgage deals to help those who are trying to downsize but are unable to sell their house.

Building societies are offering one-year mortgages to help people who are unable to move because of the housing market slowdown. The deals are essentially bridging loans for those who have found new homes, but are unable to sell their existing property.

Bridging finance is notoriously expensive but Enness Private Clients, the mortgage broker, calculates that it would be £18,000 cheaper to borrow £500,000 on one of these new mortgages than it would be to take out a typical bridging loan. The Shorter Term finance mortgage from Market Harborough building society has a rate of 5.49 per cent for up to a year, almost half the 9 per cent rate at which bridging loans start. You have to pay a fee of 2 per cent (£6,000…

Jessie Hewitson   http://www.thetimes.co.uk/article/at-last-a-new-alternative-to-costly-bridging-loans-for-generation-stuck-6st85db36
Read Article


Recent Articles

News item number 26

Bridging lending soars in Q3 following initial Brexit fears

10/20/2016 11:07:02 AM - 0 Comments

Bridging lending increased sharply during the third quarter of the year peaking at £140.49m, brushing off volatility that had plagued the financial markets follow the outcome of the EU vote, new figures show.

News item number 85

Octopus slashes bridging loan rates

2/21/2017 12:00:00 AM - 0 Comments
Octopus Property has cut its residential bridging loan rates to an all-time low, as part of a year-long plan to overhaul its product offering.
News item number 76

Mortgage lending falls

12/14/2016 12:00:00 AM - 0 Comments
Mortgage lending falls 11% in a year while buy-to-let borrowing has dropped by a fifth, data shows


  About

Bridging4U is a souce of information for property investors and buy to let landlords to keep up to date with what is happening with the property and buy to let bridging loan market and the latest trends.

  Recent Images
thumbs 34 thumbs 35 thumbs 36
thumbs 37 thumbs 38 thumbs 39
thumbs 46 thumbs 47 thumbs 48
  Contact Us
  Bridging 4 U

High Street,
Royal Wootton Bassett, Wiltshire. SN4 8FP.

Tel : + (0759) - 976 2285
Mail : subscribe@bridging4u.co.uk
Business Hours : 9:00 - 9:00

Copyright © 2015 - 4 You Media Ltd

Visitors: 281252