Bridging And Auction Finance

A bridging loan typically takes less time to arrange and can be invaluable for bridging and auction finance or any situation needing quick, short-term funding with flexible income and property requirements.

If you’re considering bridging and auction finance, review the key factors that make this type of loan suitable in various situations. Below are examples where a bridging loan could be the right option for you.

Speed

Faster processing times enable you to satisfy strict purchase deadlines for example auction purchases.

Flexibility

Bridging loans often have a more flexible property criteria, thus covering properties unsuitable for conventional mortgages.

Short-Term

Buy time to overcome the immediate hurdles and conduct the actions required to provide refinance or sell the property.

No Income Proof

Easier to qualify as many lenders concentrate on the value of the property than on your income.

Poor Credit

Bridging loans can be available to individuals who have had credit problems in the past but require short term finance.

step 1

Source

Bridging loans typically have a higher interest rate and not all bridging lenders will be right for you, we can help to find the cheapest loan that will be suitable for your requirements.

step 2

Exit Strategy

Bridging loans should be considered as temporary loans, therefore we can discuss the possible exit strategies to ensure that bridging loan is repaid at the end of the term.

step 3

Purchase

The bridge loan will allow you to make the purchase and use the time to conduct all the tasks during the loan term which is often up to 12 months (but can be longer or shorter)

step 4

Exit

At the end of the bridge loan term if the goal is to remortgage to a mainstream lender we can assist. If the goal is to sell then you will need to to so before the term expires to avoid penalties.

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A bridge loan typically takes less time to arrange, though it may not always be the most cost-effective option. At Cubic Financial, we use our expertise to explore all options before recommending bridging and auction finance. If it suits your circumstances and a clear exit strategy is in place, we’ll advise on the best product to help you achieve your goal.

Mortgages- Low Deposit | Self Employed | Poor Credit | Company Buy To Let Insurance- Life | Critical Illness | Income Protection | ASU | Buildings | Contents.