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Bridging Loan & Bridging Finance Advisers in Buxton, Derbyshire UK

Need funds quickly for a new property before your current one sells? Renovating before selling? Covering unexpected costs? Bridging finance could be your bridge to possibility.

This short-term solution secures your next move, ensuring you don’t miss out. Whether it’s property investments, business ventures, or personal transitions, bridging finance smooths the way for timely opportunities.

Enquire with us today to find out whether bridging finance is best for you.

First-Time Buyer Mortgage Advice

As your dedicated financial adviser, we encourage first-time buyers to approach bridging finance thoughtfully. We’re here to guide you through the process, explaining costs, repayment terms, and exit strategies. Buying a property is so much more than ‘just’ getting the mortgage agreed and your confidence in your decision matters most.

Should I use a Mortgage Adviser?

Enlisting an independent mortgage adviser will not only source the best rate for you but also support you through the whole process of purchasing your home – a stretch too far for most banks. 

At Mercian, our expertise saves you time, stress, and potentially money. We have access to an extensive network of lending options beyond high-street banks, including lesser-known but valuable lenders. With so many choices at our fingertips, we find the best possible deals for you.

From paperwork to negotiations, we’re here to ensure a smooth journey to your dream home or investment.

How our advisers work:

We start with a chat at your convenience, gathering the basic information we need to kick off our journey.

Then, we dive into the marketplace, researching to present you with options tailored to your needs, and even giving you an idea of the maximum amount you could borrow if you’re not sure about the property.

As you find your dream home and your offer is accepted, we spring into action. We submit a thorough application to your chosen lender and recommend safeguarding you against life’s twists, covering mortgages, buildings, contents, and you – with buildings insurance being a must.

But our support doesn’t stop there. Mercian guides you through the next steps. From working with estate agents and solicitors to keeping you in the loop with mortgage lenders, we’re here every step of the way, ensuring you’re informed and confident until you finally hold the keys to your new home. Our team help you turn the unfamiliar into the unforgettable.

Bridging Finance FAQs

1. What is bridging finance and how does it work?

Bridging finance is a short-term loan used to bridge the gap between buying a new property and selling your current one. It’s useful when you need quick funds to secure a property before your sale is finalised. 

2. How long is the typical bridging loan term?

Bridging loans are short-term solutions, usually lasting from a few months to a year. The term depends on your specific situation and the time it takes to sell your existing property. 

3. What are the interest rates for bridging finance?

Interest rates for bridging loans are typically higher than traditional mortgages due to the short-term nature and higher risk. Rates vary based on the lender, your credit history, and the loan amount.

4. Can I get a bridging loan if I have a bad credit score?

While a good credit score can improve your chances, some lenders might consider offering bridging finance to those with less-than-perfect credit. Expect terms and rates to be influenced by your creditworthiness.

5. What happens if my property doesn’t sell before the bridging loan term ends?

If your property doesn’t sell within the agreed term, you might need to refinance or extend the bridging loan. Discuss potential scenarios and exit strategies with your lender to be prepared.

Securing a mortgage can often feel like a daunting process, especially when it is your first time. Our mortgage advisers work closely with you to understand your needs and support you in choosing the best solution that feels comfortable for you. Contact us to get started with one of our specialists.

Buy-to-let (BTL) is an ideal investment opportunity, with options to secure the property in your personal name or limited company. We work out the numbers for a 25% deposit and factor in the additional payable Stamp Duty and tax on any earnings in a full assessment to make sure you have everything in place for your next venture.

Is your mortgage rate about to expire, or already has expired? Are you looking for financial options to carry out home improvements? Our independent advisers fully review your current offering to ensure you stay on track for repaying your mortgage at the best possible rate.

Thinking about moving soon? Get prepared to take the next step when you feel ready. Speak to our team for guidance on the process and to receive a financial estimate of associated fees with moving. This example will include dealing with estate agents, solicitors, and mortgage lenders.

Bridging is a short-term solution often used when a financial turnaround is needed fast, such as for saving a collapsed chain or buying an uninhabitable property. The option is available to buyers and investors who meet certain criteria. Contact our team to discuss your requirements and find out whether bridging could be the best alternative for you.

Get in touch today

As bridging finance can be complex, contact us to find out whether this is the best possibility for you.