What is a Bridging Loan?
A Bridging Loan is a short term loan, secured by a property, usually available for up to 24 months.
A Bridging Loan can be used to purchase a property to refurbish and then sell, or refinance. Sometimes people use a Bridging Loan when they want to buy a new residential home but can't sell their existing property.
Can I still get a residential, development or commercial mortgage if I have credit problems?
Potentially yes. It will depend on the extent of your problems, whether your debts are repaid or being managed and how long ago your problems occurred. Bear in mind you may pay a higher rate for any mortgage you obtain
What deposit do I need?
It depends on your circumstances and what mortgage you are applying for. If you want a residential mortgage then potentially you will only need a 5% deposit. If you want Bridging, Commercial or Development funding you may need a 25-30% deposit. That said, if you have other assets we may be able to use these to offset the need for a deposit.
Do you charge fees?
APM prefers to charge no fees. Most Lenders will pay us a fee for placing a mortgage with them. In some circumstances we may charge a fee up front to cover our costs and then refund the full amount upon completion of your mortgage.
Are you fully independent?
Yes, we have access to the whole of the market which means we will source the best mortgage for you, based on your circumstances.