A Bridging loan is predominantly for use to complete on a new property before the current property is sold. A bridging loan can be used to purchase a new property to prevent waiting and possibly finding that the property has been sold to a third party. Providing there is equity in your current property a bridging loan can be secured on both the new property and existing property. Chasewood are a privately owned bridging lender offering bespoke financial solutions, for residential and commercial bridging, often lending where others won't or can't on a first or 2nd charge basis. We can arrange loans from £25k to £500k with the usual term being 1-6 months upwards with the facility to complete sooner. A first charge bridging loan is generally available at a higher LTV than a second charge bridging loan due to the lower level of risk involved, many UK lenders will steer clear of second charge lending altogether.
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