Bridging Loan

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We are seeing more and more Homeowners seeking advice after being threatened eviction as a result of taking out a Bridging Loan.

It is never too late even if eviction is only an hour away. Call 0800 298 0571

A Specialist Area of Finance

Bridging Finance is a specialist area of finance that is being used more and more, often outside of its original intended purpose, which was to ‘bridge’ the gap between a home sale and purchase. They are now taken out as a temporary reprieve of circumstances; however, many Homeowners mistake them for a solution to their circumstances, often making their circumstances much worse.

There are two types of Bridge Loan, a ‘regulated’ Bridge Loan which is a company that has provided the finance under the regulation of the Financial Conduct Authority (FCA) and an ‘unregulated’ Bridge Loan which is often referred to as a commercial Bridging Loan. Any loan that sits as the first charge on your residential property HAS to be regulated, and the Bridging company has to, therefore, has to be regulated and follow the FCA regulation in the administration of your loan.

A regulated Bridge loan is therefore likely to be a less expensive and will take longer to evict you from your Home. However, most bridging loans are unregulated and insist that there must be a commercial element to your loan and be used technically for business use.

The main issue with a Bridge loan is the short-term nature of the loan. You are not facing eviction for arrears, you facing eviction because the term has expired on the loan and you have failed to repay it. This makes the Lenders position against you far stronger.

The difference between an expired Bridge loan and a normal mortgage that has expired like on Interest Only Mortgages is the costs and the aggression involved. A normal mortgage provider will give you time to seek a proposal to resolve the case.

Mis-Sold Bridging Loans

Many Bridging loans are presently being mis-sold and Homeowners are being convinced that they should take a Bridge Loan for 12 months and remortgage back to a normal mortgage in 12 months time. In most cases we see, refinancing after the 12 months will not be achievable and the broker has misled the Homeowner.

Unfortunately, a Bridging Loan company is likely to be far more aggressive and will often escalate cases to the high court to expedite the eviction process.

Bridging loans are very expensive, and most have clauses for a ‘Default Interest Rate’ which comes into force upon expiry. The default interest rate is typically double the original rate and charged to your account monthly. Bridging loans, therefore, rise in terms of balance very quickly and a permanent solution needs to be established as soon as possible.

We can help with achieving time to secure a permanent solution to your circumstances. A Bridging loan company can still be stopped from taking your home away, but you need to contact us immediately before they take up all your equity in default interest and court costs.

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We help save your home by stopping your eviction, helping you clear your arrears negotiating with your lender.

What people have to say about Home Owner Management Services

I was at a total loss at what to do with my situation, having been a mortgage broker, I was convinced I had the ability to talk to my lender and negotiate however; nothing I could offer was good enough!

They explained the process to stop the eviction and when it all came together it was like a case of De Ja Vu, it went EXACTLY as they said it would. They got me enough time to save up my deposit to go and rent, and I just let the lender have the house because I had negative equity anyway.

I am now back to a comfortable state of living and have no stresses anymore. I didn’t have to borrow any money from anybody because I didn’t have to pay the mortgage while I was saving up for my rent.

The best part was having the ability to remove my belongings at my own pace, and it not being done for me! I didn’t need to arrange storage or anything. I cant begin to express how grateful I really am!

Mr L

I really had my head in the clouds as I believed I now had no where to turn. I had already made my appointment with the council to assess me for emergency housing. However my council said they could only find me a hostel to stay in. 1 call to Aggressive Lender Solutions and I no longer had a problem.

They resolved the Eviction order in a matter of days, giving me every confidence that they could achieve it, every step of the way. I don’t know where Id be if they didn’t help.

Mr B

Thank you so much for your help. We can now keep our home for the long term. We now have to pay our Lender a monthly payment we can finally afford after a year of turmoil. The hardest thing was unpacking all the boxes we had already packed because we thought there was no hope.

Everything you did for us was so quick and professional, our home was saved before we knew it, it took some time to sink in, but they really did achieve what we thought was impossible. In less than 24 hours of phoning them the eviction order was cancelled.

With the weight off our shoulders we can concentrate on living again and earning the money we need to pay the mortgage without living in fear of the Bailiff knocking on the door with an eviction order!

Mr & Mrs J W

I really can’t thank you guys enough. I was certainly headed for another breakdown, however, the sheer weight of your support saved me from despair and I am sat at home nice and  warm, in familiar surroundings thanks to you.

I can’t believe, looking back, how much time I wasted trying to convince the lender to let me stay, so many documents and offers, my only regret is honestly not phoning you sooner.

Mrs M

It is never too late to contact us, even if your eviction is only an hour away. Call 0800 298 0571