If you are looking to increase borrowing secured on a property that you already have a mortgage on, the following alternative finance options may be available and may be more appropriate.
- A further advance from your existing lender
- A second charge
- An unsecured loan
Banks Lane Finance do not provide advice on unsecured finance or second charges.
Bridging finance is a short-term finance option, usually used by property buyers to ‘bridge’ the gap between the sale of their current home and purchase completion date of their next home. These loans let homeowners who are struggling to find a buyer move into a new property before selling their existing home. Banks Lane Finance have access to a number of master brokers who can provide a full range of tailored options.