Residential Bridging Loans

Residential Bridging Loans can be the perfect solution for people who want to purchase a property as soon as possible but have not yet sold their current property or are stuck in a chain. As well as purchases, residential bridging loans can be used for refurbishments or to refinance a residential property.

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How to choose a bridging loan

Bridging loans are developing all the time with more options coming into the market constantly. With so much choice it makes sense to seek expert advice from an experienced specialist who can search the market to find you the best match. At Mesa financial we are not restricted to a panel of lenders so that we can do just that. It is our priority to add value for our clients.

Any bridging loan remains a temporary solution to facilitate your residential property purchase, renovation or refinancing.

Advantages of a residential bridging loan

  • Receive the funds quickly
  • You can borrow on properties that may not necessarily be suitable for a normal mortgage
  • Large loans available – no maximum limit
  • Flexible borrowing
  • Fixed or a variable rate
  • Available as a first, second and even third charge loans
  • No early repayment charges
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How much can you borrow?

The maximum most lenders will go to on a residential bridging loan will be 75% loan to value.

How is interest charged?

Interest rates on bridging loans tend to be higher than your normal mortgage lending and are designed for a short period of time.

As they are short term, bridging loans usually charge monthly interest rates rather than an annual percentage rate (APR). This means that just a small difference in the interest rate can have a big impact on the overall cost of your bridge loan.

But the interest is not always charged monthly. There are three main ways it can be charged. These are:

Monthly – You pay the interest monthly and it’s not added to your bridging finance. This is also known as servicing your loan.

Deferred or rolled up – You pay all the interest at the end of your bridge loan. There are no monthly interest payments.

Retained – You borrow the interest for an agreed period, and pay it all back at the end of the bridge loan.

Some lenders let you combine these options. For example, you could choose retained interest for the first six months, and then switch to monthly interest.

How you are charged on your bridging loan can make a huge difference in the total amount you repay to the lender. It is key to take advice from a qualified professional to keep you overall costs to a minimum.

Bridging Loans with Mesa Financial

Our specialists will discuss your borrowing needs with you to assess the most appropriate solutions. There is a wide range of lenders now offering bridging loans and the terms can vary significantly. We will conduct a detailed search to find the right options for you to consider. We will explain all of the pros and cons so that you are fully informed to make a decision that best suits your needs.

Find out how our specialist was able to save our client from loss of exchanged funds by arranging a bridging loan at speed.

Get in touch if you would like to discuss your requirements. It costs nothing to have a consultation with one of our experts and we can guide you through your options.

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    Case Studies

    I’m moving into my dream home thanks to Mesa – I’d recommend them to anyone and I feel very lucky to have been taken care of by a company that gave me such brilliant support

    Alexandra Winter

    We have been so impressed with Mesa Financial. They have a highly knowledgeable and skilled team. The customer service has been amazing throughout the process and they are always available to you via phone or email. Highly recommend them – very professional service.

    Nina Jay

    Mesa has supported me through the whole process of getting a mortgage. My contact reference was always reliable and always promptly took action to make sure everything would move ahead smoothly. Brilliant service.

    Robin Ancilotto