Many people find themselves in the position of needing to fund a house purchase quickly. Whether buying at auction or having found your ideal home but not yet having sold your current property, bridging finance offers a solution. With rates having reduced significantly over the last few years, bridging loans are more affordable than ever.
The Financial Conduct Authority does not regulate some aspects of bridging finance.
JLM Mortgage Services and its affiliates do not provide tax, legal or accounting advice. You should consult your own tax, legal and accounting advisors before engaging in any transaction.
Mr and Mrs M had found their perfect retirement home in a road where very few properties ever came up for sale. Whilst they had secured a buyer on their own home almost immediately, their buyer had a chain below them, meaning that their transaction would take 3-4 months to go through. As the sellers of their new house were unwilling to wait Mr and Mrs M were in danger of losing it.
Due to increased competition in the bridging market, JLM arranged a bridging loan without monthly repayments and on a far lower rate than the clients expected. As there were no early repayment penalties, the loan and interest was repaid in full once their house sale completed.
Need help? One of our advisors will get in touch to discuss your specific requirements.
JLM Mortgage Services Ltd is registered in England, No. 470 1803. Registered office: JLM Mortgage Services Ltd, 21a Churchyard, Hitchin, Hertfordshire SG5 1HP. Registered company number 04701803. Registered in England & Wales.
JLM Mortgage Services Ltd is authorised and regulated by the Financial Conduct Authority, (FCA). We are entered on the Financial Services Register No: 300629 at https://register.fca.org.uk/.
The information contained within the website is subject to the UK regulatory regime and is therefore primarily targeted at customers in the UK.
Should you have cause to complain, and you are not satisfied with our response to your complaint you may be able to refer it to the Financial Ombudsman Service, which can be contacted as follows:
The Financial Ombudsman Service Exchange Tower, London, E14 9SR Tel: 0800 023 4567 or 0300 123 9 123 www.financial-ombudsman.org.uk
*A fee of up to 1% of the mortgage amount may be charged depending on individual circumstances. A typical fee is £595. In some circumstances no fee will be payable.
Calls to and from our landlines and mobiles may be recorded to meet regulatory requirements.