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Bridging Loans - Property Purchase

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    Bridging Loans - Property Purchase

    Has anyone any experience of using a Bridging Loan for purchasing property.

    I've just put an offer in on a property where it's a repossession and they're only interested in cash offers. So to be able to that without selling our existing property I've arranged to cover the difference with a bridging loan payable back in 12 months as a lump sum when I sell our main house.

    Quite pricey, 9% including fees.

    Anyone with experience on what to look out for? Pitfalls etc.
    What happens in General, stays in General.
    You know what they say about assumptions!

    #2
    Originally posted by MarillionFan View Post
    Anyone with experience on what to look out for? Pitfalls etc.
    Property crash, failing of the UKs reinvigorated economic dream
    The Chunt of Chunts.

    Comment


      #3
      Loans? Mortgage?

      Pauper! Fantasist!
      Originally posted by Stevie Wonder Boy
      I can't see any way to do it can you please advise?

      I want my account deleted and all of my information removed, I want to invoke my right to be forgotten.

      Comment


        #4
        Watch out for trolls under the bridging loan.

        Comment


          #5
          FTFY

          Originally posted by DimPrawn View Post
          Watch out for George Osborne under the bridging loan.
          The Chunt of Chunts.

          Comment


            #6
            Originally posted by DimPrawn View Post
            Watch out for trolls under the bridging loan.
            And make sure you jump over the pitfall otherwise you could turn an ankle...
            Last edited by SlipTheJab; 5 January 2016, 15:06.

            Comment


              #7
              This is cracking advice so far. I'm getting some great insights, insights to how dumb most of you are.
              What happens in General, stays in General.
              You know what they say about assumptions!

              Comment


                #8
                Originally posted by MarillionFan View Post
                This is cracking advice so far. I'm getting some great insights, insights to how dumb most of you are.
                Its General and we all think you are a Walter Mitty, what else did you expect you monumental tool

                Are you planning on re-mortgaging within 12 months to clear the loan, or sell your place in the mean time, guess the biggest risk is what happens if you can't clear the debt at the end of the 12 months?
                Originally posted by Stevie Wonder Boy
                I can't see any way to do it can you please advise?

                I want my account deleted and all of my information removed, I want to invoke my right to be forgotten.

                Comment


                  #9
                  Originally posted by MarillionFan View Post
                  insights to how dumb most of you are.
                  Only gonna go up and up and up, what pitfalls could there possibly be?

                  None.

                  Happy now?

                  HTH

                  BIDI
                  The Chunt of Chunts.

                  Comment


                    #10
                    Originally posted by SimonMac View Post
                    Its General and we all think you are a Walter Mitty, what else did you expect you monumental tool

                    Are you planning on re-mortgaging within 12 months to clear the loan, or sell your place in the mean time, guess the biggest risk is what happens if you can't clear the debt at the end of the 12 months?
                    Selling off at the end to pay off the loan and then remortgage.
                    What happens in General, stays in General.
                    You know what they say about assumptions!

                    Comment

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