Bridging Finance is a short term loan, often taken out over 12 -18 months that can be used for a variety of purposes until longer term funding can be arranged. Bridging finance can be arranged in a matter of days or weeks which makes it perfect for when you need to fund a quick purchase or to fund an emergency chain break.
Bridging finance often comes with arrangement fees, legal fees, valuation fees and other fees so it is important you seek advice from a specialist to get the best deal for your circumstances.
Secure a property quickly (perfect for Auctions)
Secure finance for a refurbishment project
Cash flow to fund a change in property use
Refinance to raise capital for any legal purchase
Repay existing short term finance, including development loans
Assist in the event of a chain break to avoid losing your onward property.
When considering bridging finance, you need to be extra careful about the fees required by different bridging finance lenders, as they can impact the profitability and viability of your project therefore speak with our advisers who can compare all the lenders on your behalf.
At Beneco Financial Services we can support you in obtaining an Islamic mortgage that is compliant with Sharia Law. These mortgages are not the same as traditional mortgages because they don’t involve paying interest. We’re one of a limited number of companies who has the permission from The Financial Conduct Authority to arrange Sharia Compliant Mortgages
For Customers with bad credit
It’s often possible to obtain a mortgage with a bad credit history, although the options available to you may be limited or not with the lender of your choosing. At Beneco Financial Services we have the experience of what lenders are looking for and what they will consider.
Self Employed & Sole Traders
Accounts for 2 years is preferred, but, If you have less than 2 years it could still be possible to obtain a mortgage. Most mortgage lenders will average your income but there are some lenders who consider your latest year figures. Also, there are lenders who could consider using your retained profit, salary and dividends, if you’re a Ltd company director and take a low salary and dividends but have a high retained profit.
At Beneco Financial Services, we can navigate the complexity that complex mortgages, self-employed/sole trader status and adverse credit history can bring to mortgage applications.