Bridging loan or traditional mortgage?

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May 9, 2012 at 12:39 pm #42
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admin

I am just wondering if people recommend using a bridging loan to assist in the purchase of auction properties or if you should always wait to secure a mortgage?

May 11, 2012 at 2:34 pm #52
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Andrew

Purchasing properties at auctions generally require you to complete the purchase within weeks of the auction ending, which means it can be extremely difficult to secure a mortgage in time. You should always make initial enquiries though to ensure you will be able to get a mortgage in the very near future.

For info about bridging loans and auctions you can click here

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