anyone got experience in bridging loans / second mortgages ?

found a property that would be ideal for what we need however i have my own to shift, is a bridging loan the best option? anyone used one?

cheers y'all

Dan of darton

 

Once used IF to secure a house purchase,they gave me the mortgage at normal rates on the understanding i had my other house on the market(hence i had two houses at the same time for a period)

 

who was it? did they give you a time scale and were there any upfront fee's. how long were you paying the second loan?

thanks for your help mate

dd

 

Intelligent Finance...I think there was an arrangement fee, had both houses for 4/5 weeks only. Would consider using them again.it helped me secure a property in a very aggressive market.

 

did you pay a capital repayment or interest only, i'm thinking of the later as it would be much cheaper short-term

 

I did repayment but intrest only was available too.

 

thanks then