- Bridging Loans Growing in Appeal Across Multiple Areas
- Non Status Bridging Loans – Fast Secured Finance for Any Purpose
- Using a Bridging Loan to Pay an Outstanding HMRC Tax Bill
- UK Property Finance Launches Free Online Bridging Loan Calculator
- UK Property Finance Announce Full Support of the FCA’s Attitude towards Dealing with Unregulated Finance Brokers
UK Property Finance Announce Full Support of the FCA’s Attitude towards Dealing with Unregulated Finance Brokers
Britain’s Leading Choice for Alternative Intelligent Finance Seeks Clampdown on Negligent Lenders
Unregulated finance brokers who are currently offering inappropriate funding solutions for those in genuine need of responsibly sourced products are finally about to face serious action from the Financial Conduct Authority – a firm decision that the team at UK Property Finance believe is sorely overdue whilst echoing the sentiments vocalised by the FCA in their recently issued statements.
According to the FCA, many of the mortgages and secured loan products offered to borrowers by unregulated lenders have led to a growing number of both residential and commercial customers facing complete ruin. As a direct reaction to this unprincipled lending practice, the FCA is now advising all potential borrowers to exercise a significantly increased level of precaution when dealing with the brokers and lenders that they are considering apply for finance.
If you have been offered property finance or borrowing advice from a lender that is not an FCA-regulated body then it is almost certainly within your best interests not to proceed.
Unregulated Lenders Should Be Avoided At All Costs
“A large percentage of the problems we have witnessed in the industry, from the crash of 2008 onward, have been caused by regulated brokers participating in activities that are outside the ‘regulatory perimeter’. However, our resources are limited and it is therefore essential that we use them as effectively as possible in order to maximize our impact. If our objectives are endangered by unregulated bodies then we shall be forced to operate outside the perimeter wherever necessary.” – FCA (Financial Conduct Authority)
When it comes to identifying the main root of the problems faced by the financing sector, the FCA is quick and forthcoming to cast the finger of blame directly on those who are involved in unscrupulous lending practices. Each time a borrower decides to work alongside an unregulated finance provider that is not committed to offering a level of service that is completely above board and delivered with assiduousness, a serious and unnecessary risk becomes almost inevitable.
Although a high degree of caution is recommended to those looking for cheap mortgages and other secured borrowing products, it has become increasingly apparent that many are not heading the warning. With this in mind, UK Property Finance has advised that if you are going to deal with a broker offering greater levels of convenience than a high street lender then you should only do business with an FCA authorized and regulated broker regardless of the service or product required.
A Dramatic Increase in Bridging Loan Popularity
“As a leading bridging loan broker, and an occasional lender, the team at bridgingloans.co.uk enjoy excellent relationships with some of the most important lenders in the industry and we know exactly what it takes to ensure each transaction is processed swiftly and elegantly. In some instances, we will even consider using our own funds if this will be of benefit of the lender and ourselves, which typically enables even quicker processing. However, in most cases the standard processing period is three to five working days. As an FCA regulated broker, we are permitted to carry out any type of bridging finance transaction on any type of property. With one simple call, we can arrange any value of bridging loan required with no minimum or maximum borrowing restrictions” – UK Property Finance
Bridging loans are unique and easily accessible financial products that are suitable for those in need of short-term funds that are to be paid back in either a closed or open time-frame. The team at UK Property Finance has noticed a large and widespread increase in the number of bridging loan applications they have processed over the last few years with business going from strength to strength. Offering fast and uncomplicated access to exclusive funding that banks and high street lenders are unable to provide, bridging loans are the perfect choice for landlords, developers and property investors from all backgrounds and in every part of the UK.