Bridging loan alternative

Discussion in 'Property Finance and Real Estate Loans' started by Biodun Sean Onipede, Dec 5, 2018 at 3:08 PM.

  1. Biodun Sean Onipede

    Biodun Sean Onipede New Member

    Hi, I have been lurking around here for a little while. As the title says I am looking for an alternative, ie cheaper alternative to bridging loans.

    I am an old builder but new property developer with enough equity (cash) to fund one property. I am on my third property. I go to auctions, buy, refurb and sell properties.

    However when I finish a property, I am sat at home for months waiting to sell the property when I could be working on next property.

    I could get a bridging loans on the current and future properties but would like a cheaper, more flexible solution.

    Heard Natwest bank would take a view and I am waiting for them to call me back but thought I would fire a post here as well.
  2. diyhelp

    diyhelp Active Member

    What is the alternative? Some kind of large flexible property development loan where you only get charged when you use it?
  3. Biodun Sean Onipede

    Biodun Sean Onipede New Member

    well, that is what I am asking, any alternatives anyone can suggest please.
  4. Longterminvestor

    Longterminvestor Active Member

    A flexible mortgage would seem the best way for me - as long as there was security against the loan the bank would be happy. You would be able to pay in and take out of this arrangement when required, surely this would be the best alternative?

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