Bridging Loans For Spain

What Are Spain Bridging Loans?

Bridging loans for Spain are a specialist kind of loan designed solely for shorter term usage to provide a temporary cash flow solution or ‘bridge’ before additional permanent finance becomes available.
The method for obtaining a bridging loan is straightforward and really versatile with a more flexible set of criteria than is usually required by most high street banks and mortgage lenders. Like a mortgage, a bridging loan is secured against your property. With bridging a realistic and viable exit will be required by the lender.

How Do Bridging Loans for Spain Work?

Bridging loans are frequently utilised as an answer to a temporary cash flow problem. A common example of this type of situation is when a person wishes to buy a property but still needs to sell their existing home. A bridging loan can, in these circumstances, provide a solution by offering short term funding.
Bridging loans may be offered in amounts ranging from £50,000 to several million, depending on your circumstances and which lender you approach. Click here for more information on large bridging loans

Bridging Loans Can Be Used For:

  • Bridging the gap between purchase and sale – Secure a property quickly before it is snapped up by another buyer – even if you have not yet sold your current home
  • Downsizing – Timings between buying and selling an existing property are rarely aligned. A bridging loan can smooth the process.
  • Mortgage chain issues? – Secure your ability to buy even in the event that the home buying chain breaks down – for example, if the sale of your old house falls through, a bridging loan can allow you to still have sufficient funds to purchase the new house
  • Buying an auction property?  – Use a bridging loan to pay the required percentage needed to secure the property on the day of the auction
  • Need to move fast? – Get a fast, temporary cash injection when you most need it during the property purchasing process. The ability to move quickly can make the difference on any property transaction.
  • Development finance – If you are buying property to redevelop and you need finance to get your project off the ground then a bridging loan could help make the difference
  • Lease extension – Extending a property lease can be costly and may be necessary before a mainstream lender will consider giving you a mortgage. A bridging loan to purchase a lease extension can provide you with the funds to make this happen.
  • Commercial property – Finance for purchase or refinancing and making property improvements.

We Speialise In Raising Bridging Finance For Residential And Commercial Property Transactions In Spain

  • Our market leading bridging loans service provides:
    Market leading bridging loans from £50,000 to £25m
  • Rates from 0.43% pm
  • Lower rates for £1 million+ loans
  • Finance within 7 working days is possible depending on your circumstances
  • Terms from 3 months to 3 years
  • LTVs up to 80% (can be more if other assets in the background)
  • Interest roll up options
  • Residential (On a regulated basis), buy to let, HMO, investment and commercial properties considered
  • Light refurbishment finance (currently uninhabitable, under permitted development rules, require internal refurbishment)
  • Heavy refurbishment finance (extensions, basement digs, loft conversions, commercial to residential, barn conversions)
  • Bridging finance for business purposes (Pay HMRC tax bill, purchasing land or new premises, deposit for new purchase, business growth)
  • Alternative assets considered e.g. pension, investment porfolios, fine art, classic cars
  • Automated valuation option for properties under £1m

We provide a friendly, professional service to help you get the money you need at the best available rates

By on April 15, 2020   /   Blog