Property buyers as an alternative to bridging
Sometimes borrowing money on a short term basis may not always be the best move for you to make. For instance, if you have a house or building for sale, and feel you are going to miss out on a new property because of a hold in the chain or just the failure to sell, obtaining bridging finance can prove to be risky. Bridging loans are designed for the short term or interim periods only. If you are currently selling and been let down by a potential buyer, or your house has been on the
market for sometime, who is to say it will sell in the next 6 months? In instances like this you should also speak to private property buyers.
Buy property for cash
There is one distinct disadvantage when dealing with a company that will buy property for cash. You are almost certain not to get the full market value of the house or building you are selling. How ever, there are also a few things that should outweigh this short fall on the cash generated from the sale.
As it is a private sale, you do not pay estate agents commission. Private house sales are also exempt from having to purchase a HIPs. You get the sale immediately, thus freeing up the equity you are after in the home. No more mortgage repayments on the house for sale. You can now finance the new property purchase.
We have put a link into one of the leading property buyers in the UK Frequently Asked Questions page for more detailed information. Click the buy property link above.
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