Make an online enquiry now and we can match you, free of charge, with a broker who is best suited to your needs. They’ll be able to identify the right lenders, plus negotiate rates and terms on your behalf. ![]() Find a broker who specialises in buy to sell mortgagesĪ lot of the lenders offering bridging loans are not usually present on the high street and not easy to find without expert help, so finding yourself a broker who has knowledge of this particular type of finance and existing relationships with lenders is the smart move. While the process of securing a buy to sell mortgage will be slightly different for everyone, there are steps that everyone can take to get set up and ready to go. A bridging loan can be used for a property that isn’t habitable, so gives you a lot more scope in terms of what you can buy. Often if you are renovating homes for resale, you may be buying them when they’re not yet in a fit state to live in, including not being secure or not having working kitchens and bathrooms. The condition of the property can also be a factor as standard mortgages can only be used to buy homes that are habitable, either for you or for tenants. A traditional residential or buy-to-let mortgage will often include early repayment charges whereas a buy to sell mortgage is specifically for investors looking to sell and repay the loan after only a few months or years. Firstly it’s a matter of timing – bridging loans can take days to organise rather than months, making them particularly useful for quick purchases such as buying at auctions.Ī buy to sell mortgage also gives you the flexibility you need to repay the loan after a very short amount of time. There are a few reasons why you would need a bridging loan when flipping properties.
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