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
Platinum Global Bridging Finance is a distinguished high-net-worth finance broker. We specialize in providing tailored financial solutions, including Property Bridging Finance, Development Finance, Stock Loans, and Commercial Property Finance, tailored to meet the diverse needs of our clientele seeking robust financial support.