How do you use a bridging loan to stop property repossession?
Many people give up on trying to salvage their home and credit ratings and facitlities when the bank or mortgage provider threatens them with a property repossession. There could be alternatives available for most and the chance to buy time is certainly available through us. We can assist and show you the right path to take to deal with mortgage or loan providers threatening to repossess your home or business premise.
As far as banks are concerned, there is no empathy, no understanding. You are your home are just numbers of a balance sheet. We view you completely differently. We will make a decision on a bridging loan to stop a repossession based purely on equity, no borrowing history.
Bad credit welcomed to apply as long as there is a property or land with or without planning permission to be used as security.
There is no reason to have your home repossessed.
Even at the twenty fifth hour, our bridging finance can be used to clear all your mortgage and/or secured loan commitments. It's a fundamental strategy many of our clients incorporate to make sure they do not have to give up the ir family home immediately and save the hassle of having to find somewhere new to relocate to quickly. Clearing all the credit facilities in place that are contributing towards an impending repossession means your home will not be liable for repossession.
Adverse credit, non status, IVA pending or actioned can all apply and be accepted online if there is a property or land to use as security.
Preventing banks repossessing you home.
This is how our previous clients have used short term finance to avoid having their home repossessed.Our quick bridging loans have been used immediately to clear the mortgage in full. Once the mortgage is paid, the bank cannot repossess the house.
There are then two options available. They have either put the property on the market and sold it through conventional means and used the proceeds to clear the bridging loan, or they have found a new mortgage provider, which is based on a lesser amount and used that mortgage to pay off the short term bridging finance.
Simple, quick and easy. The only reason that more people looking to stop a house repossession don't do this is because there are very few UK principal lenders that actually offer bridging loans to those that are under the threat of repossession.
Fortunately for you, we do. In fact, because we are a totally independent lender, free from the constrainst placed on banks, building societies and High Street lenders, we can offer funding to to nearly everyone, regardless of credit history, with the just one stipulation of having paid off a minimum of 40% of the houses value on the mortgage.
We accept the following for homeowner and business bridging:
- Individuals and Companies.
- Bad credit.
- CCJ's and Arrears.
- Discharged Bankrupts.
- Self-Employed (no accounts necessary).
- Non Status.
- Non UK residents looking to move to the country and get their credit history up and running.
As far as security for the advance is concerned, you can use:
- End or mid terraced
- Semi detached
- Land with or without planning permission
- Flats or apartments
- Any type of commercial property
As long as you have ample equity built up in the house or dwelling you would like to use as security, the chances are that we should be able to lend a fast bridging loan.
Call us now on 0845 467 9798 for a no pressure informal chat about your needs and requirements or use our online enquiry form.
Our short term bridging loans finance can be used for any purpose, including but not exclusive to, buying a property at auction, bridging a property chain break, business or commercial use or even personal or private use. All the service you need and should expect from a bridging finance lenders without the hassle or high pressure sales forced on to you to accept any proposal we make to you. Click the button, complete the form, meet the lender.
Please be advised that a property or land is required as security on bridging loans over £25,000.00 and it is liable for repossession should you default on the interest repayments or fail to clear the full amount within the specified time frame. Make sure you understand all the terms and conditions.