Bridging Loan for Property in Walton-on-Thames
The picturesque town of Walton-on-Thames, nestled along the River Thames, offers an appealing mix of suburban tranquillity and city-like amenities.
From its outstanding schools and vibrant Heart shopping centre to watersports activities and proximity to Hampton Court Palace, it's no wonder property investors are keen on this area.
But how can a South East bridging loan be used to buy property here?
Why Is Buying Property in Walton-on-Thames Popular?
This picturesque town is known not only for its scenic beauty but also for its top-notch schools, engaging watersports activities, and fantastic shopping facilities.
The Appeal of Outstanding Schools
Walton boasts several outstanding schools, both public and private, that offer excellent educational opportunities. Institutions like Ashley Church of England Primary School have consistently received high ratings from Ofsted.
Secondary education isn't left behind either; institutions such as Rydens Enterprise School provide an environment that nurtures future leaders.
A Shopper's Paradise at Heart Shopping Centre
Regarding retail therapy, few places can match up to Heart Shopping Centre in Walton. It houses over 50 stores offering everything from fashion boutiques to homeware shops.
What makes it even more attractive is its unique blend of independent retailers alongside popular high-street brands like H&M and Waterstones.
Watersports Activities
You wouldn’t usually associate towns within commuting distance from London with water sports adventures. But here’s what sets Walton apart: Its location by the River Thames lets residents enjoy various exciting watersports activities.
Elmbridge Xcel Leisure Complex offers a range of aquatic activities for the whole family, including swimming lessons, aqua aerobics, and canoeing. For those seeking more adrenaline-fuelled action, there are opportunities for sailing or windsurfing at Desborough Sailing Club.
Hampton Court Palace
Then, you'll find Walton's closeness to various historical and cultural sites a real treat. It's an ideal location for history buffs and culture enthusiasts alike.
What is a Bridging Loan?
A bridging loan, as the name suggests, bridges the financial gap that can occur when purchasing one property before selling another. It's essentially short-term finance secured against property until longer-term funding becomes available or an existing property is sold.
This type of loan comes in handy when traditional mortgages don't quite fit the bill - for example, if you've found your ideal property but haven’t sold your current house. In such cases, bridging loans can help secure your new place while waiting for funds from your old one.
Advantages of Bridging Loans
These loans are short-term, and lenders can make decisions quickly, allowing you to seize property opportunities that might otherwise slip away.
Bridging loans also give flexibility in repayment terms. You can opt for 'rolled-up interest,' where the entire loan amount plus accrued interest is paid back once when the term ends, or 'retained interest,' which means monthly payments during the tenure period, thereby reducing the final lump sum due upon completion.
Using A Bridging Loan to Purchase Property in Walton-on-Thames
A bridging loan, as its name suggests, acts like a bridge that lets you cross over short-term cash flow gaps. This is particularly handy when buying before selling an existing property.
Bridging Loan Basics
Typically, these loans are for substantial amounts and have relatively high-interest rates due to their flexible nature and quick processing times. You can secure a bridging loan within days – ideal if time is against you.
The repayment term can vary, anything from just months up to two years, depending on your circumstances. It's also worth noting that there may be early exit fees if things move more quickly than anticipated.
Purchasing Power with Bridging Loans
Bridging finance gives you buying power without waiting for funds from other sources - such as the sale of another property or long-term mortgage approval.
The swift process means less chance of losing out on securing properties due for auction or those in high-demand areas like Walton-on-Thames.
We're experienced financial experts who arrange short-term bridging loans for property owners, securing you the best deal from over 200 bridging loan providers, including private investors and family offices.
Get expert assistance today; we're on hand to answer any questions about bridging loans.
Call our friendly team on 01202 612934, we're ready to help.
