If you don’t have the full amount you need for your development, renovation or home improvement project, there are a range of property loans available. Shop around to see what types of loans are on offer and more importantly, which ones suit you. Be clear about your requirements and state what you want from your new financial arrangement clearly.
This is the best option available. Using a specialist lender means that you can benefit from all their expertise and experience compared to commercial banks who are much less involved. A private lender will determine their own lending criteria and so you may be able to get finance from a private lender even if a commercial bank has said no. Keep up with the latest finance news.
A bridging loan is a short term arrangement to fund purchasing, building and development costs. This is a good option for those who need fast access to finance or a boost of funds during the project. Rates tend to be higher though so consider how long it will be until you can pay off the bridging loan. There may be another product more suitable for your borrowing needs. Send us a message if you have any questions about bridging loans.
Every bank and building society has something different to offer. You can look at traditional mortgages or look into a buy-to-let mortgage. Use an online loans calculator to see how much you could borrow.
Finally, take time to consider what long term impacts these decisions will have on your future life. The financial decisions you make now can either positively or negatively affect your business so be sure to dedicate enough time to their careful consideration.