There seem to be a few green shoots of sales picking up again π But in the meantime at Roma Finance we're seeing quite a few cases of loans expiring where a short loan extension just isn't sufficient or cost effective. This recent completion is an example of just that. Although there have been a number of sales that have reduced the original loan considerably it just needs another one (or a refinance onto a BTL or holiday let) to fully repay us πͺ Many sales and mortgages are taking 3 months or more to conclude - and that's assuming they don't fall away of course π‘ A new bridging loan for a decent amount of time, with interest retained so you don't have to service payments from cashflow, is an ideal solution and can take that pressure off a little π€ Please don't leave your decisions to the last minute though as a new loan or product takes time to put in place - especially if you need a valuation! #developerexitfinance #bridgingloans #relationships #lovetolend
Posted by williamsonpropertyrentals at 2024-08-23 07:50:55 UTC