Non Status Bridging Loans – Fast Secured Finance for Any Purpose
Do you need a competitive non status bridging loan?
If you are looking for flexible, low cost finance secured against your assets that won’t be affected by your credit rating or borrowing history then a non status bridging loan is the perfect solution. When a property owner applies for non status bridging finance, the lender is less concerned about your financial past and more interested in the real estate that you are providing as security instead.
The vast majority of secured loan products are quite complicated to arrange and can take weeks to process – assuming your application is successful in the first place. Of course, there are many loan specialists offering bad credit products although the cost of borrowing is usually excessive to say the least. With a non status bridge loan, you can get a decision in less than 24 hours and the funds are typically made available within 5 to 7 days.
How much can I borrow?
In most cases, non status bridging finance is available with a loan to value of up to 70% or more. However, if a borrower can provide additional security by offering a second or third property as collateral then an LTV rate of up to 100% is possible. Of course, this will entirely depend on the lender you choose to work with. By using the services of a specialist broker such as UK Property Finance, sourcing a cost effective product that is tailored to fit your individual borrowing circumstances is effortless and stress free.
Non status bridge finance for any purpose
With a non status bridge loan, you can release the equity in a property, or multiple properties, that you own and use the funds for any reason you see fit.
Common uses of this type of finance include:
- Financing property refurbishment and development
- Funding a property purchase whilst waiting for a different property to sell
- Buying property at auction
- Paying urgent HMRC tax bill
- Eliminating short-term cash flow problems in business
Bridging loans are short-term products that can be used for all manner of reasons. With low interest rates, flexible borrowing criteria and the option of rolling up the interest until the end of the loan term, non status bridging loans are an incredibly attractive option that can be arranged swiftly and effortlessly, regardless of your personal borrowing requirements.