London, (PressExposure) September 03, 2012 -- Fincorp, one of the UK's leading bridge loan specialists, offers bridging loan services to plug the finance gap for investors in UK property. A bridge loan helps buyers aiming to purchase a piece of property for their portfolio, but find themselves short of ready cash.
Simply put, bridging loans can be thought of as a short term mortgage for people investing in property. And as a mortgage, the loan is secured against a buyers existing property asset. If the borrower defaults on the loan, the lender can claim the property to satisfy the debt.
Bridging loans are secured either on the purchased property, the borrower's existing property, or both. Lenders usually put forward as much as 65 percent of the property value less existing mortgages. For example, if the property is worth Â£100,000, then the forwarded amount is Â£65,000.
Bridging finance [http://bridgingloansfc.co.uk/bridging-finance/] loans can be used by borrowers in a number of ways. Borrowers can use the loan amount to purchase a new property at auction, developments, and refurbishments, as well as raise working capital for business ventures.
But this arrangement varies from lender to lender. Standard amounts quoted for bridging loans range from Â£25,000 to Â£500,000. Again, depending on the lender, larger amounts can be acquired, but will take longer to process.
Fincorp is the leading provider of bridge finance and bridge loans in the UK for the past 20 years. Fincorp provides their clients with secure loans up to 70% of the property's value for a competitive flat rate. Borrowers can then take the time they need to arrange for longer term financing.
For more on Fincorp's bridge financing services, call (020) 7722 7547 or visit them at BridgingLoanSFC.co.uk.