Not Found precise | Baya financial https://bayafinancial.co.uk Boutique, bespoke Wed, 27 Jul 2022 10:28:07 +0000 en-GB hourly 1 https://wordpress.org/?v=7.0.4 https://bayafinancial.co.uk/wp-content/uploads/2023/05/cropped-Untitled-design-16-32x32.png precise | Baya financial https://bayafinancial.co.uk 32 32 Precise have expanded their bridge to term product! https://bayafinancial.co.uk/precise-have-expanded-their-bridge-to-term-product/ https://bayafinancial.co.uk/precise-have-expanded-their-bridge-to-term-product/#respond Wed, 27 Jul 2022 10:28:07 +0000 https://bayafinancial.co.uk/?p=1472 Read more]]> How does it work?
  • You have one valuation carried out to give you a today figure and a GDV. 
  • You receive two mortgage offers – for the bridge and the term.
  • You have the offer for the term before you start.

For the bridge:

You can borrow 75% LTV to purchase the property

They allow a light refurbishment, including a change of use to an HMO

You have 6 months to move to the term mortgage

For the mortgage:

You can borrow 75% of the GDV figure.

The fees are reduced across both products.

There are very little legal fees to move from bridge to term and it is quick!

What are the benefits?

  • It keeps the costs down of bridging – arrangement fees, legal fees, and valuation fees are reduced
  • It offers certainty over the exit.
  • The process to move from bridge to term is quick and simple.
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