Most buyers would not have access to enough finance to buy a property outright, particularly in certain parts of the UK where property prices have significantly increased, so this brings bridging finance into the picture.
Bridging loans are a favoured financial option as they help to join a gap until a long-term mortgage deal or sale can be secured on a property. Pinnacle’s bridging finance for auction is available for commercial buildings, buy-to-let and residential properties. At Pinnacle, we have a proven track record when it comes to negotiating auction finance for our clients when it is needed most.
There are some methods to give you an approximate amount, such as multiplying your income by x5 or concluding how much you could afford per month.
In order to qualify for a bridging loan, you must have a strong credit history. If you are having some credit issues, they may need to seek private lending options, which can often mean higher interest rates and fees.
Bridging finance is a short-term funding option used to 'bridge' a gap between a debt coming due and the main line of credit becoming available.
To apply, all you need to do is visit our contact us page to make an appointment or request a quote.
For arranging a mortgage, we typically charge a fee of £295 which is only payable on receipt of a mortgage offer. However, this is dependent on your circumstances.
We offer bespoke services ranging from property sales, conventional mortgage advice through to commercial loans and home insurance.