A Bridging Loan is a short term secured loan where the funds and any interest charged are repaid in full at the end of the term.
uk is a leading UK finance broker & principle bridging loan funder with a unique commitment to transparency and customer service excellence.
The past year has brought about yet another spike in bridging loans interest among British investors looking into buy-to-let opportunities.
The enhanced bridging loan offering will see the bank reduce its minimum valuation for light refurbishment to GBP75,000, a reduction from GBP100,000 and in line with Aldermore's residential and buy to let mortgages.
When customers are ready to leave their bridging loan, Aldermore's bridge to term offering allows them to switch to a buy-to-let or commercial product for long term funding.
Group managing director, Mortgages, Aldermore, Charles Haresnape said "As the demographics of who is seeking a bridging loan changes, and we increasingly move away from the idea of 'the average customer', a reduction in the minimum age reflects our commitment to continually improve our products and services and to provide more flexible and bespoke financing options for our borrowers.
If you are selling a property in order to repay a bridging loan then make sure you know what price you are likely to receive for the property taking into consideration the time frame you are allowing yourself.
UKPRwire, Mon Jul 02 2012] Over the past few years the number of people taking out bridging loans has increased dramatically with the amount of bridging lending doubling during the last 12 months alone.
The bridging loan has been extended until August 31, 2010.
The company was initially liable for repayment for bridging loan and accrued interest on August 9, 2010.