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Bridging Finance / Second Charge Mortgages / Commercial Mortgages

Available by referral to a trusted third party only. We do not take responsibility for the advice/service being provided by any third party firms.

Bridging Loans

A bridging loan is a short term secured loan. They can typically provide peace of mind by ‘bridging’ the gap between the purchase of a new property and approval of a traditional mortgage, the sale of the new property or the release of capital from an existing property.

Interest rates are typically high, with short loan periods and high initial deposits required. However, a bridging loan can be useful for some circumstances –

  • You want to move but are struggling to sell your property and need to buy your new home quickly
  • You’ve lost your buyer but don’t want to let your purchase fall through
  • You want to purchase a property that isn’t currently mortgageable or habitable
  • You want to convert/refurbish/develop a property
  • You want to purchase an auction property
  • You want to purchase land so you can self-build a property
  • You require funding without monthly interest payments for a short period of time

Get in touch if you would like us to refer you to our trusted third party specialist advisers in this field.

Second Charge Mortgages

A second charge mortgage allows you to use any equity you have in your home as security against another loan. It means you will have two mortgages on your home. Equity is the percentage of your property owned outright by you, which is the value of the home minus any mortgage owed on it.

Taking out a second charge mortgage can typically be used to assist with consolidating debts, in cases where the mortgage charges a lower interest rate than unsecured loans or credit cards. However, the overall cost of credit should always be analysed in the long term as a second charge mortgage could cost more overall, especially as some second mortgages can run for 25 years.

If you are interested in this option, we would refer you to our trusted third party colleagues to advise, please get in touch with us first.

Commercial Mortgages

Owning your own premises can be a great way of growing your business, bringing greater stability and certainty, reducing the constraints of renting and your business can also benefit from any increase in the property’s value over time.

Commercial mortgages are provided by banks and other specialise financial institutions. They are a complex type of lending, requiring specialists to advise and arrange.

We can refer you to our trusted third party connections who are able to advise on commercial mortgages, please speak to us today.

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