Frequently Asked Questions
How does the ‘Simple to Bridge’ system work?
If you are buying property for below the market value, the system takes advantage of the difference between the valuation and the buying price. It is a mechanism that uses immediate refinancing to complete your sale. You will only need to mortgage once and therefore only incur one set of costs and you avoid the need to tie up a deposit.
If you would like to know more about how it works, why not apply for a FREE consultation, or request our series of FREE reports
here
How can I buy property for below market value?
To make the ‘Simple to Bridge’ system work, your BMV deal needs to be at least 20% lower than the market value of the property. This is likely to be possible when the seller’s primary motivation is time as opposed to receiving the highest price.
Register for our FREE report on how to find, negotiate and secure BMV deals here
How can I buy property without paying a deposit?
Here’s an example. If you are buying a property for £75,000 and it is valued at £100,000, then you can take advantage of the 25% difference in the properties value and the agreed sale price.
Take a closed bridging loan for £75,000 and then re-mortgage at 75% of the property’s value (£75,000). Repay the closed bridging loan and you are left with a property worth £100,000 which has £25,000 equity, and no deposit.
Is it true that I can get cash back with this system?
There is a potential to free up some cash from a property’s value so that you will actually receive funds from the transaction. Our
FREE report series gives you more detail on the potential rewards of using this system.
Will you do a credit check on me?
No, there is no need for us to check your credit profile. Your loan will be approved if the mortgage lender’s requirements are satisfied.
Can I use my own Mortgage Broker?
Yes. But we do stress that our own broker is an expert in this type of structured deal and specialises in dealings handled in this way.
Can I use my own Solicitor?
We have a panel of solicitors who we use who have experience, knowledge and the resources needed to undertake these kinds of deals. You may prefer to use our selected experts for your transaction
.
If you have any further questions, or you need clarification, please contact us
