When time-sensitive property opportunities arise, bridging loans offer the financial flexibility to act decisively. Whether you’re aiming to purchase a property at auction, fund necessary refurbishments, or bridge a property chain, Precise Mortgages provides tailored short-term finance to meet your needs.
At Auction Finance, we specialise in simplifying the process of securing bridging loans from Precise Mortgages, ensuring a seamless experience from your initial enquiry to the release of funds. With expert guidance, competitive rates, and flexible terms, we’re here to help you make the most of your property investments.
Why Choose Precise Mortgages with Auction Finance?
- Time Savings: We manage the entire application process, saving you valuable time.
- Improved Approval Chances: Our expertise ensures your application meets Precise Mortgages’ criteria, increasing your chances of success.
Expert Guidance: Receive personalised advice tailored to your specific property project.
Key Features of Precise Mortgages Bridging Loans
1. Loan Amounts
Bridging loans are available starting from £25,001, making them ideal for both small and medium-scale property projects.
2. Loan Terms
Up to 12 months for regulated loans. Up to 18 months for non-regulated loans.
3. Loan-to-Value (LTV)
Borrow up to 75% of the property’s value, maximising your borrowing capacity.
4. Competitive Interest Rates
With rates beginning at 0.49% per month, Precise Mortgages offers cost-effective solutions for short-term financing
5. Property Types Supported
Residential Properties: Ideal for buy-to-let investments, owner-occupied homes, or refurbishment projects.
6. Flexible Payment Options
Serviced Interest: Reduce costs by making monthly interest payments. Rolled Interest: Optimise cash flow by deferring interest payments until the loan term ends
How Auction Finance Simplifies Your Bridging Loan Application
Step 1: Initial Consultation
Step 2: Preparing Your Application
Our team ensures your application is complete, including:
- Property Details: Type, location, and valuation.
- Financial Information: Proof of deposit and income.
- Exit Strategy: A clear repayment plan, such as refinancing or selling the property.
Step 3: Submission and Liaison
- Valuation: Precise Mortgages arranges a professional valuation to confirm the property’s market value.
- Legal Work: We coordinate with solicitors to finalise the loan agreement.
Step 4: Valuation and Legal Process
- Valuation: Precise Mortgages arranges a professional valuation to confirm the property’s market value.
- Legal Work: We coordinate with solicitors to finalise the loan agreement.
Step 5: Approval and Funding
Example Scenarios for Precise Mortgages Bridging Loans
1. Auction Property Purchase
Scenario: A property investor wins a property at auction and uses our bridging loan calculator to assess funding needs before securing £200,000 to complete the purchase within 28 days.
Solution: Auction Finance secures a bridging loan with Precise Mortgages, meeting the tight deadline with ease.
2. Renovation Project
Scenario: A landlord plans to convert a property into an HMO to boost rental yields.
Solution: We arrange a 12-month bridging loan, enabling the landlord to complete the renovations before refinancing onto a buy-to-let mortgag
3. Bridging a Property Chain
Scenario: A buyer wants to secure a new property while waiting for their current home to sell.
Solution: Auction Finance arranges a bridging loan, allowing the buyer to purchase the new property and repay the loan after selling the existing home.
Common Mistakes to Avoid When Setting Up an SPV
Specialist Expertise:
Our in-depth knowledge of bridging finance ensures your application aligns perfectly with Precise Mortgages’ requirements.
Tailored Guidance:
We offer bespoke advice, structuring loans to fit the unique needs of your project.
Transparent Process:
Our team maintains open communication at every stage, ensuring you’re informed and confident throughout.
Faster Approvals:
Our strong partnership with Precise Mortgages streamlines the approval process, giving you access to funds quickly.
Bridging loans can unlock valuable property opportunities, and Precise Mortgages, coupled with Auction Finance, provides the support you need to succeed. Whether it’s securing auction properties, funding refurbishments, or bridging property chains, we’re here to help.
