Bridging Loans / Auction Finance
Many new investors will have looked at buying Bargain properties that may be in need of some renovation. If you have the know how to turn these properties around you could possibly make a reasonable profit.
The only problem being some mortgage lenders may not lend on a mortgage if the property is not habitable or in poor condition.
You could be buying to renovate the property then do a quick sale or you could be buying a run down or repossessed property to bring the property back to standard with the intention of letting the property and building a portfolio for income or capital appreciation everyone has a plan.
A solution could be a bridging loan, these loans allow you to purchase such property with a time frame to do the work required then either sell the property and repay the loan or in the case of buy to let you would remortgage the property when works have completed and repay the loan, it is possible to raise additional funds if the value has increased with proof of works carried out.
Either way it’s important to have an exit route to repay the loan, here at Ashleigh Mortgages we can arrange both the loan and the exit rout to ensure your investment is safe.
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Call us on 0333 7720 173 or send us an email at firstname.lastname@example.org if you would like to find out more.