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If you have a significant amount of money invested in a residential rental property or development, the last thing you want to do is let that all go due to an expiring financial deal. This is where Ascot Bridging Finance comes in. We will assess each case, taking into account all existing debts and, based upon the circumstances, we will make you an offer to refinance a rental property or development so that you can continue making the profits that were originally intended.
Over our many years of trading in the finance industry in the UK, we have seen every kind of financial hiccup there is and from this experience, we know that a bridging loan running out of time is not the end of the world. Our range of financial products includes the option to easily refinance rental property for investors as well as the ability to refinance a property for developers should the build take longer than expected. From residential investors to large scale property developers, we have all the refinance options that you could possibly need.
Ascot is provided with a summary of the deal, reasons for wanting a bridging loan, the security available and a clear repayment strategy.
Ascot will provide a set of Heads of Terms outlining the key details to which we are happy to lend and the next steps to proceed to the next stage.
Ascot receives a fully completed application form and supporting documents for underwriting review and full due diligence.
Ascot will instruct both a Surveyor to provide a valuation report and a solicitor to undertake the required legal due diligence.
An Asset Manager will visit the property and discuss with the borrower their plans for the project, experience, exit strategy and the contractors they intend to use.
Your underwriter will present the case to the credit committee team detailing the due diligence undertaken to date and their rationale for approval.
Legal work is satisfied, security documents are signed and returned with funds released to the solicitors for completion.
Contracts exchanged with monies sent to the seller. You are now the legal owner of the property.
No matter whether you are a professional mortgage broker or a property developer, the team at Ascot Bridging Finance offers one of the best lending services in the UK. As an industry-leading refinance lender, Ascot can provide you with the financial solution that you or your customer requires. Contact the team at Ascot Bridging Finance for a refinance quote today and discover how easy is it to deal with a team of professionals that can provide you with all the refinance solutions you need.
Refinancing involves replacing an existing mortgage on an investment property with a new loan, often to secure better terms, lower interest rates, or access equity.
Refinancing can lower monthly payments, reduce interest rates, release equity for other investments, or change the loan terms (e.g., switching from an adjustable-rate to a fixed-rate mortgage).
Costs may include application fees, appraisal fees, closing costs, and early repayment penalties on the existing mortgage. These should be weighed against the potential savings from refinancing.
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