The 5 Different Types of Bridging Loan

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Kevin Wright | Property Finance Expert

Күн бұрын

5 types of bridging loans that you need to know!
00:00 - Intro
01:14 - Purchase Bridging
02:00 - Market Value Bridging
03:28 - Refurb Bridge
05:38 - Done-Up Value Bridge
07:32 - Cross-Collateral Bridge
09:37 - Outro
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Пікірлер: 6

@karjarron Жыл бұрын

Hi Kevin, as usual very informative, what is the minimum cash amount I could receive on a bridging loan? and least time to settle loan?. Thanks

@KevinWrightProperty Жыл бұрын

thanks for appreciating this video Del. Every bridger sets their own minimum loan threshold - for some its £250k, a lot set it at £100k, go below £100k and there is a much smaller choice of lenders, below £50k and its almist non-existent. Bridgers tend to have either a 1 or 3 month minimum loan period.

@derrollindsay8006 2 жыл бұрын

Morning Kevin. How does the interest work on the refurb bridge? You’re obviously getting charged for the actual loan then do you have a second charge for the amount you borrow for the refurb? And also with regards to the done you value bridge how does it exactly benefit you more than just doing it the normal way as I don’t quite get it? Thanks Kevin..

@KevinWrightProperty 2 жыл бұрын

Thanks for your questions Derrol On a refurb bridge, the interest is rolled up and including in the amount to be paid back at the end of the loan. Watch this video I shot that explain refurb bridge products in more detail - kzfaq.info/get/bejne/iN5miZWn2bfShJs.html There are no 2nd charges on a refurb bridge, both the loan to purchase and the refurb costs are all in one loan from the same bridger. The normal way is you buy a property, put down 25% deposit, then you spend your refurb costs, then you refinance at the uplifted value you created. With a done up value bridge, you do that refurb between exchange and completion then borrow at the already done up value to buy it, thereby reducing and possibly eliminating he need for a deposit. if you are content to put down 25% deposit each time, you don't need the done up value bridge. if you want to put down minimal deposits, the done up value bridge helps you do that. Watch this video i shot to explain the done up value bridge in more detail - kzfaq.info/get/bejne/qbyUhqem39WyeKc.html

@derrollindsay8006 2 жыл бұрын

@@KevinWrightProperty Thank you very much Kevin. I’ll watch them vids

@KevinWrightProperty 2 жыл бұрын

@@derrollindsay8006 enjoy them