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CLOSED BRIDGING PROCESS
Our
process is outlined below from application through
to completion. If you have any queries please do not
hesitate to call or
email us with any questions or queries you have.
A
brief explanation of each step is provided after the
flowchart below.
Apply Online
Once you are ready you can make an online
application to request funds for bridging your below
market value deal.
If
you need to discuss anything with us beforehand
please do not hesitate to get in touch.
Application
Processed
Once we receive your application we'll discuss and
confirm your requirements (where necessary) and
assuming there are no issues will email approval to
you.
Note that you also have the option on the form to
receive a copy of the form you have submitted.
Sign & Return Documentation
On
approval of your application, we'll forward you
details to our solicitors. You'll then receive a
Facility Letter & Legal Charge document which you
sign (or your solicitors can sign on your behalf if
you have given them authority and they are happy to
do so) and then return back to our solicitors.
For
more information regarding our documentation please
see our
documentation section.
Bridging Funds Reserved
Once you have your completed forms we'll book the
funds for you on your estimated completion date.
48 Hour Confirmation
We
require that your solicitors confirmed / request
funds 48 hours prior to completion. If you are using
our recommended solicitors then there will be no
need for this step.
Completion
On
the day of completion, the bridging funds are sent
to your solicitors (or are internal transferred
between accounts if you use our recommended
solicitors) ready for the purchase to be made. made.
Once the sellers solicitors are ready to complete
our funds will be sent to them and after they
confirm completion the re-mortgage funds for the
re-mortgage you have arranged will be drawn down.
From this drawn down, our bridging loan & fees are
repaid with any excess being sent to you.
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