A West One bridging loan can be perfect for an auction purchase due to our speed and flexibility. We can help in many situations where conventional finance can’t, some examples of this may be:
Speed to complete – We can complete in as little as 2 days but on average our loans take between 2-3 weeks, perfect to ensure you have the funds needed to complete your purchase in time.
Property type – We can lend on all types of property including: Residential, Commercial, Mixed Use and Land with or without planning permission. We also can lend on non-standard construction properties as well as properties which wouldn’t normally qualify for a conventional mortgage.
Affordability checks – Bridging loans can allow you to borrow the monthly interest repayments as part of your loan. This means there are no monthly interest repayments to be made during the loan term, the interest accrued over the loan term simply gets repaid when you redeem the loan. This could mean we do not need proof of income or to conduct affordability checks on you.
And much more – We can bridge the gap in many different scenarios until conventional mortgage finance is available or the property is sold.