Bridging Loans In 24 Hours

Don't delay your application for bridging finance

If you need to raise finance in hours rather than days or weeks then bridging loans are the only way to achieve this. However none of those deals that are successfully completed by bridging lenders in hours (and heavily promoted by them) are processed from a standing start.

The reality behind the marketing of bridging loan finance is that to raise cash against property in hours essential background work must already be completed and be acceptable to the potential lender. Necessary work and information includes:-

• Legal work such as being in possession of "title deeds" and an up to date "property search" must already be with your solicitor.
• A surveyor from the lenders panel must have produced an up to date property valuation which indicates the deal fits loan criteria.
• The solicitors from all interested parties must be in a position to move quickly. Remember, there could be up to 3 involved i.e. the bridging lenders, the applicants (yours) and potentially a vendors.

As bridging loan brokers we would always recommend allowing 10-15 working days to to raise bridging finance. But if you need quicker then you need to take note of how those "fast bridging loan completions" are achieved!

Submitted by Bridging Loan Broker on Thu, 17/09/2009 - 12:10

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