How to use residential bridging loans for homebuyers

The residential bridging loan is a very useful tool in the marketplace.  It can provide much-needed breathing space for a homebuyer.  It helps the buyer to find a suitable solution rather than make a distressed decision.

Residential bridging loans for homebuyers are becoming increasingly popular in a competitive housing market. Unlike investors who approach property purchases pragmatically.  Homebuyers are more emotionally involved and less likely to give up on their dream home. However, there are many potential pitfalls in the home-buying process, such as chain breaks, which can result in wasted time, money, and disappointment.

Negotiating a better price

Fortunately, residential bridging loans can provide a solution for homebuyers in these situations.   By taking out a bridging loan, house buyers can essentially become cash buyers, allowing them to detach from the broken chain and proceed with the purchase at a faster pace. In fact, this may even give them leverage to negotiate a better price on the property.   Making the cost of the bridging loan worthwhile.

In addition to chain breaks, residential bridging loans can also be a useful tool for homebuyers who have yet to sell their existing home.  It allows them up to 12 months to sell while securing the property they want to move into.

Assisting Downsizers

Meanwhile, to assist downsizers in navigating the current challenging property market.  A residential bridging loan can be a valuable solution to help them acquire their ideal property.  By using their existing property as collateral, they can also become cash buyers and avoid being constrained by chain sales or accepting a lower price for their property.   The application process is straightforward and can be completed quickly.

Experienced Principal Lenders

To ensure success in today’s property market, it’s important to work with lenders who have a proven track record and strong funding capabilities. With over 30 years of experience, Alternative Bridging Corporation offers a personalised and flexible approach to each case. Decisions are made by people, not algorithms, and when we say yes, we deliver on our promise.

Our residential bridging loans have a term of 3 to 12 months, allowing borrowers ample time to sell their existing property at a more favourable price and keep the market moving.

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