Service for UK & International Property
Rates from: Downsizing/Upsizing Releasing Funds From Your Home Short Term Lease Finance Auction Purchase As at September 2020 Rates from: Ground Up Development Light & Heavy Refurb Finance For Unmortgageable Properties Land Purchase As at September 2020 Rates from: Up to 80% LTV Minimum Loan £500k Minimum Income £100k Serviced monthly interest required As at September 2020
Buying Before Selling?
Development & Refurb
Large Bridging Loans
Releasing Funds From Your Home
Short Term Lease Finance
As at September 2020
Ground Up Development
Light & Heavy Refurb
Finance For Unmortgageable Properties
As at September 2020
Up to 80% LTV
Minimum Loan £500k
Minimum Income £100k
Serviced monthly interest required
As at September 2020
In the property market, a bridging loan can be used in multiple ways – and one of these ways it can be used is to buy a house while waiting on a mortgage.
Bridging loans can be used to speed up the buying process of a property – mortgages can take quite a while to go through, and if the nature of your property is time-sensitive (eg if it was bought at auction) then you might want to consider short term finance instead. A bridging loan can be used to bridge this gap, enabling the buyer to purchase their new property without the waiting period necessary for a traditional mortgage.
A bridging loan could also be very useful to solve one of the most common irritations in the housing market – the housing chain. This is when a series of properties are being bought and sold, but a delay on one property causes delays throughout the whole chain. By using a bridging loan, the delay on the stalling property can be solved, enabling the housing chain to be broken.
When examining which is better for you it is worth considering how important speed is to your property interests. For example, mortgages can be slow to process, especially during peak season so if time is of the essence in your case, then you might want to consider a bridging loan.
However, if time is less of an issue for you when approaching buying, you will probably get a more competitive interest rate from a mortgage, so this might be a better route to go down. Also, not all mortgages are very long term - there are some with a minimum term of five years, so for someone looking for a bit more flexibility, this could be a good option.
There are some properties which cannot be mortgaged due to not meeting certain standards - in this instance, a bridging loan can be the ideal loan. Also, bridging loans have less limitations regarding what they can be used for than mortgages do, which is a plus for someone looking for a quick refurbishment loan rather than money to buy a property.
I approached Clifton Private Finance to help me get a mortgage as an Expat working in the Far East. I would normally 'cut out the middle man' on something like this and try to get myself a deal directly with the banks, but I am now sold on the broker concept and wouldn't hesitate to use Clifton Private Finance again. There were a number of complicating factors such as being an expat, the stamp duty holiday, the sheer amount I wanted to borrow and the fact I wanted it all wrapped up before the Stamp Duty holiday ended. It is clear to me now that the relationship that brokers have managed to foster with their banks means they can simply pull levers and make stuff happen that us ordinary folk cannot. Put simply, they are worth every penny, will take most of the stress out of the lending process, and seem to have access to deals that you just won't find on the internet. Thank you George and Jan for all your hard work!
Luther was excellent. Very clear in his advice and explanations of products and was able to move things on very quickly when we ran into difficulties with the estate agents. Without a doubt I would recommend Luther to all friends, family and colleagues. Luther was a joy to deal with and took a lot of the stress out of a troublesome transaction, from my end. I would view Luther as real asset to Clifton Private Finance Ltd.
The team at Clifton Private Finance has been outstanding, not only in helping me to obtain a mortgage on a slightly unusual home, but also in continuing to provide support and liaise with the lender and solicitors through to completion. Thank you for making the process of buying my first home much easier.
Sam O'Neill, and the new lender he identified for me, worked tirelessly together using my time constraints, to make sure my mortgage application was completed on time. They are a brilliant company to work with, fast, efficient, open and transparent from the very beginning, and turned a seemingly impossible situation into a viable one. Sam was brilliant throughout the whole process and I would highly recommend him, and his colleague Helen, to anyone without hesitation, I cannot speak highly enough about them.
I was incredibly lucky to find Clifton Private Finance after a search on line as their service has been more than exemplary. My point of contact was Sam 0’Neill and he was happy to help at every stage during the application of the bridging loan, making a stressful process much easier to deal with. He was always available by phone or email and gave prompt answers to queries I had as well as always getting back to me when he said he would. That to me is excellent customer service and I cannot thank him personally or the company enough for the support they have given me.
Adam cannot thank you enough for all your support throughout this arrangement. You have gone more than the extra mile to support us. Without you we would not have got our dream retirement home. You have been most professional and personable. Liz and I would be more than happy if you wanted to use us a reference with respect to any future clients.
Nigel & Liz K - Bristol
You have certainly shown me that you do everything for your clients, including tolerating their excessive emails and questions for updates. I have been kept in the loop, from yourself, about why the delays were occurring (Nationwide, post etc) which I would like to highlight that I really appreciated. I certainly will be able to recommend you to others as and when the need arises.
I recently contacted Clifton Private Finance after a Google search for bridging finance providers and was immediately struck by their efficiency and support. Forms were emailed over almost immediately and the necessary finance was arranged within a few days. None of the other companies I contacted came close to their professionalism, and the quote that I eventually received was impressive. Thank you Adam, your help has enabled us to reserve the house that we wanted and I certainly recommend you to others.
Mr M. R. - Oxford
Absolutely brilliant. The service was first class, got everything sorted efficiently and were always friendly. Any fees were negligible compared to the service offered. Robert was particularly outstanding.
My advisor, Robert, was very helpful in finding the mortgage to suit me. He kept me up to date throughout the process and dealt with any issues when they arose.