Avoid Repossessions

Use a bridging loan for urgent funds to clear mortgage arrears and avoid repossession

Are you facing repossession? We have helped many people to stop repossession by providing either a small second charge bridging loan to clear the arrears or a first charge bridging loan to repay the current lender in full. Bridging loans should only be used for this purpose if by providing the bridging finance the client's credit profile will have improved sufficiently by the end of the bridging term to allow the client to be successfully refinanced out of the bridging loan and back into a more common type of finance such as a mortgage.

Example:

If you have recently missed payments with your current mortgage lender, they are trying to repossess your property. You will find that you are unable to refinance with another mortgage lender and get yourself straight due to the missed payments on your credit profile and therefore unable to stop the repossession even though the loan secured on the property is relatively small. A bridging loan can refinance from the mortgage lender clearing all arrears and possibly raising extra finance to repay other mounting debts.