Smart Money Can Provide A Regulated Bridge For Any Legal Purpose Including To Avoid Repossession.
Working with the leading bridging finance providers throughout the UK, Smart Money has recognised the importance of how a regulated bridging loan can often lead to the best customer outcome.
One of our recent examples was to provide a bridging facility for an applicant who had over £60,000 of mortgage arrears due to problems with his business. He had plenty of equity in his property with it being valued at £825,000 and a mortgage balance of £440,000. The first charge lender had started repossession proceedings however a 12 month facility to repay the mortgage with payments rolled up allowed the client to sell his property in his own time, maximising the equity he retained.
With facilities available for any legal purpose we have seen a significant increase in demand for Bridging Finance. Lenders have also recognised the importance of regulated bridging loans and competition has driven rates down to as low as 0.48% per month with no exit fees. Coupled with loan amounts from just £25,000, we expect to see further growth in this area.