What is a Bridging Loan? How Does Bridging Finance Work? #Finance

hey what’s up my name is Samuel Leeds I’m a property investor and in this CashNews.co I’m going to be explaining what is a bridging Loan and how to none;">Finance properties via bridging Finance so stay tuned and please do hit that like button and subscribe if you haven’t already guys I really

appreciate all your comments questions feedback interaction on this channel one of the things has been coming up quite a lot is people been asking what’s a bridging Loan listen if you don’t know what a bridging Loan is that’s no problem all

I’m explaining this CashNews.co but it’s not going to magically mean that you can buy loads of houses for free okay the thing that you need to do the number one thing is always being able to find good deals if you bring me the right deals I’ll believe me we can find that answer

for it you can buy a house without using any of your own money as long as you can find the right deals you can however bridging bridging Finance is just a tool in a toolbox

that is going to help you Finance deals and recycle your money which means that if you’ve got to pay fifty thousand pounds twenty thousand pounds you can buy not just

one house but you can buy again and again and again and again and again you can keep buying houses using bridging Finance so what is bridging

href="https://cashnews.co/finance" style="font-weight: bold; color: #1a73e8; text-decoration: none;">Finance a bridging Loan or bridging Finance

is when you will be lent money so someone will lend you money they’ll usually charge a lot of interest it can be anywhere between usually like 10 and 20 percent which is a lot the banks high street lenders that will give you a mortgage on a house you talking like three four five percent so 10

to 20 percent it’s a lot of interest what does that mean does that mean that you’re going to end up paying a lot no because you’re gonna have it for a short period of time let’s say you find a house I’ll give an example and the house the value is 100 thousand pound and

it needs about twenty thousand pound spending on it and when you spend twenty thousand pound on it and it’s really pretty it might be worth a hundred and forty thousand pound let’s say that’s the situation but you managed to knock them down and you get it in a real bargain because

you find a motivated seller and you’re not a motivated buyer meet a few people and you buy it for 80,000 pounds but you tell them you’re gonna buy it cash so I’m gonna buy the house cash for 80,000 pound now having access to bridging

style="font-weight: bold; color: #1a73e8; text-decoration: none;">Finance means that you can talk and have the confidence and posture of a cash buyer without being a cash buyer because you have access to the cash so you say oh by 80 grams but I like cash and you can put forward cheeky

offers when you were touched by because you buy it cash the bridging Finance a lending company if you’ve got bad Credit they don’t care if you

have got issues or you don’t own any houses currently or they don’t care they only care about one thing the bridging lenders care that you can find these types of good deals why because when you buy the house and they lend you the money they’ll have a charge on the property

they’ll be able to see this house is a good house you’re running a business they don’t care about you okay Matt your family better care about your job I care about your Income but I can’t make your Credit take care about the house that your

mind as long as you let them have a charge on the house which means that if you don’t pay their money back then they’re gonna have the house so they’ll buy the house they’ll put the money in and normally you’ll need to put down a small amount of the money which you can

do or you can borrow for someone house a bridging lender doesn’t care where you’ve got your deposit from within reason okay if you borrowed it from an investor that’s okay you buy his house for 80 grand you say you’re gonna bite cash they say yes then you’re like holy

crap what or do you borrow the money i keeping borrowing a little bit from a friend or you can put a little bit down yourself but you borrow the majority of the money from the bridging lender you then buy it for 80,000 you then spend the 20 grands with money more money from the bridging company

there our company are bridging companies out there that will give you 100% of the development or refurb for the property now you’ve got this house but you are bought in cash most of its from the bridging company if you’ve done a refurb on it with the bridging company’s money now

your job is now to get a new mortgage on the property which will be a normal buy to let mortgage or what whatever whatever kind of mortgage you’ll borrow the money another mortgage company but this time you won’t pay 10 20 percent you’ll pay 3 percent you’ll borrow the money

on the house and the money that you borrow for the house you’ll then use that to pay off the bridging company which means that your interest payments will drop massively very quickly you can get a new mortgage on the house straightaway there used to be a six-month for all that said you have

to wait six months but after buying your house before you can reFinance but now you can do it with this companies like Kent Reliance they’ll give you a mortgage

straight away as soon as the proper soon as that value is lifted on the house that’s the essence of what a bridging Loan is so if you can find good deals you can find houses whereby you can add value and then increase the value then bridging

href="https://cashnews.co/finance" style="font-weight: bold; color: #1a73e8; text-decoration: none;">Finance could be fantastic for you but if you can’t find the deals you don’t you don’t borrow money on a bridging Loan to buy a rubbish house

that’s just gonna burn you be very very careful that’s what on my crash course I teach strategies that are very very safe we start with basic buy two lap we then move on to more advanced strategies so please before you buy a house get the training car aren’t my crash course it is

free it’s on me okay there are opportunities to do advanced training but the crash course is free also speak to mortgage Brokers speak to bridging none;">Finance companies make sure that when you make a decision you know you are well informed and I’m happy to give you all the information to do that just get yourself down to the crash course I’ll share you’ll meet a whole bunch of people I hope you found that

useful and get asked the question a lot so I hope I explained it okay if you like my CashNews.cos subscribe I’d be really grateful if you could subscribe and don’t forget to share this CashNews.co smash that like button and stay tuned for next for the next CashNews.co real soon I see

tomorrow you