How do bridging loans work?
Bridging loans are frequently utilised as an answer to a temporary cash flow problem. A common example of this type of situation is when a person wishes to buy a property but still needs to sell their existing home. A bridging loan can, in these circumstances, provide a solution by offering short-term funding.
You have the following two options when it comes to bridging loans;
The first is a closed bridging loan. This is exclusively available to people who have already exchanged on a specific property and need the finance to secure it. This type of bridging loan can be easier to come by, as the lender will consider the sale unlikely to fall though at this point.
The second is an open bridging loan. This is aimed at people who have found a property they want to buy, but have not yet sold their current home. Due to the increased chance of a sale not occurring, lenders are often more reluctant to offer open bridging loans. Your chances of acceptance will be increased if you have a lot of equity in your current property.
You can use a bridging loan for the following reasons;
Here are the latest bridging loans Edinburgh reviews for Cox & Co.
"I have got several mortgages over the last 20 years and this was by far the easiest. Alex at Cox & Co did fantastic work getting us a really low interest rate, considerably below what our current lender was offering. All the paperwork was effortless and the entire process was quick and pleasant. I genuinely wouldn't hesitate to recommend Cox & Co."
"As a first time landlord I was slightly nervous about giving my property to someone else to look after, but cox and co made everything so easy and relaxed for me. I have never had any issues with my tenants and any issues in my property they have managed to fix quickly and at very little cost. Since then they have now taught me how to start building my property portfolio, thanks to their mortgage team I was able to get a further two properties, something I never thought I would do but so happy I have done it. Definitely recommend them, always welcoming and you just know they are going to look after you."
"Niall was absolutely fantastic. He was friendly and helpful, keeping us updated and informed throughout the process which was such a relief for us as first home buyers."
"Delighted, I was introduced to Cox & Co when they arranged my buy to let mortgage for me, they arrange it in just a few days, things could not have gone smoother, they kept me up to date with the process through to completion, they then advertised my property and got a very nice couple to take the property. They have been in the property some six months now and I have not had a problem, I receive my rent payment within a few days. What more could I ask for. Cox & Co is the place to go."
"As a first time landlord, the service I received was excellent. Cox & co arranged my mortgages and let out my property in a timely manner and with highly recommended tenants. I feel happy in the knowledge that Cox & Co are looking after my rental property and would definitely recommend their services to all."
"Excellent service for all property and mortgage requirements. Highly recommend."
"As a Landlord & Mortgage client, I’m really impressed with the 1st class service"
"Cox & Co. arranged our mortgage. We worked with China there, who was wonderful throughout the whole process. We didn't have the first clue what we were doing, since we hadn't ever bought property before. She walked us through it all, step by step, and answered a nearly endless onslaught of our questions and worries. Very professional and considerate - really made us feel like she was in our corner the whole time, trying to get us exactly what we needed and wanted. Couldn't ask for a better experience."
"As a first time buyer, I was absolutely clueless about this buying business. For 6 months I had been looking around to buy a house but call it a stroke of luck, my affairs were put in the good hands of China Jane whose professionalism, patience and meticulousness really made it a walk in the park for me. Always prompt, always thorough and to the point, and always at your disposal for for each and every query, I did not even for once have to think of going elsewhere for mortgage advice. No matter how many times I asked her to walk me through all the technical stuff, she was there to answer me. And to top it all, her patience and calmness in sticking with me through all the rejections, really makes her an asset to have for any buyer. Highly recommended."
"My experience of Cox and Co, and more specifically China-Jane who handled my case, was that they are a detailed, skilled and slick mortgage service. I was kept in the loop at all times and China handled all of the most awkward requests from the mortgage providers with good humour and patience. Cox and Co are a little more expensive than other providers, but this is definitely a case of 'you get what you pay for."
Why not get in touch with Cox & Co for fast, commercial or residential bridging finance in Edinburgh with the best rates and with an unrivalled selection of bridging finance lenders.
Bridging finance (or a bridging loan as it is more commonly known) is a form of short term finance used by property owners, investors and developers when speed is of the essence.
At Cox & Co we work with the UK’s premier specialist bridging loan lenders in order to secure the most competitive rates on the market for our customers in Edinburgh and the surrounding areas.
We can help you if you are;
Our Specialist bridging loans Lending Department have a wealth of experience in securing loans against many types of residential and commercial properties in Edinburgh. Reach out to us today for the best bridging loans Edinburgh lending service.
Cox and Co we are a top rated bridging loans provider Edinburgh with access to the best bridging loans deals out there.
Get in touch with the team at Cox & Co for expert bridging loans advice form our local loans advisors in Edinburgh.