Regulated Bridging Loans
Regulated Bridging Loans: Bridging loans are often considered only for sophisticated investors or property developers, but they are in fact a fairly simple and very convenient finance solution in the right situation. They are typically more expensive than a traditional term mortgage from a high street bank, but they offer huge flexibility, convenience and speed. Also, the cost is relative, because whilst they are typically more expensive than a mortgage, you may only need the finance for a matter of weeks or just a few months.
A regulated bridging loan as the name suggests is regulated by the FCA, which means any borrower will receive full advice and recommendation during the application process, plus you have all the protection of the FCA and financial ombudsman service. Typically they are no monthly payments, no affordability assessment and no early repayment/exit fees. This can be really useful for older retired borrowers, who want to downsize and borrow on a short-term basis to secure the ideal home until their current home sells. They can then repay the loan, plus the interest from the sale of their home, and keep the rest of their retirement.
Scenarios for using Regulated Bridging Loan
- You are selling your current home with little or no mortgage left and want to buy a new home before your current home has sold.
- You are downsizing into a smaller / retirement home which is in the perfect location, but you do not have a buyer for your current home.
- You would like to buy a new home, but there is a lot of competition for the home and you are prepared to complete quickly in order to win the purchase.
- You would like to raise some money quickly and would like to use your main residential home as security for the bridging loan.
- You are in a housing chain which has collapsed, but you still want to proceed with the purchase.
How we can help
As an independent and whole of market mortgage broker, we will carry out a comprehensive search of the mortgage market, to find you the lowest cost mortgage that meets your circumstances. Regulated Bridging Loans are not offered by high street banks, but instead by specialist regulated lenders and most can only be access by brokers like First Select Mortgage Brokers.
Our Services
Our team of friendly experts will explain the process of applying for a Regulated Bridging Loan and guide you along the journey. We can explain the entire process and provide FCA regulated advice and recommendation on the best financial solutions for your circumstances, based on your preferences. We can meet face to face, virtually or on the phone. Our systems allow you to submit information and documentation via our secure client portal. After we have arranged your Regulated Bridging Loan, our friendly team will be on hand to help keep your finances in good health, into the future and we will be happy to help again with remortgaging or product switching.
- A dedicated Mortgage Adviser
- Direct access via phone, email and messenger at every stage
- Face to face, virtual or over the phone, flexible to meet your needs
- Full UK coverage, we can support clients all across the UK.
- Secure client portal to upload documents and share information
- Mortgage Decision in Principle / Agreement in Principle (DIP / AIP) certificate
- Whole of market mortgage advice and recommendation
- Insurance & Protection to shelter you from unexpected events
- Clear communication and regular updates
Did you know? Regulated Bridging loans are very popular for older borrowers downsizing.
About us
First Select Mortgage Brokers are friendly and professional mortgage brokers. We can access mortgages from the whole of the UK mortgage market, meaning we can get the best possible deal for our clients circumstances. Based in Manchester, we are a family business with decades of experience in financial services. Our goal is to be the most trusted regional mortgage advisory business in the northwest of England.
Our team of experts are ready and waiting to help. Contact the team below:
Phone: 0161 393 1575 // 07780 446 937
Email: hello@firstselectfs.co.uk
Visit our Contact Us page to make a formal enquiry
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