FCA regulated bridging loan which loans are FCA regulated?
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Are you looking for an FCA Regulated Bridging Loan? Find out all about FCA regulated bridging loans.
Only certain bridging loans are FCA regulated if you are intending to move into the property currently live in the property or any member of you your family will be living in the property either now or in the future then this is considered a regulated loan, what this means is that you will need to use an FCA Regulated broker to arrange the bridging loan on your behalf, because the property is or will be your primary residence you will be subject to affordability tests as if you were to take out a traditional mortgage and these have to be on an advised basis to see if you qualify for a loan.
A non-regulated bridging loan is a bridging loan that is lent out for a property that the borrower will not be living in these are non-regulated by the FCA and considered to be like a business transaction and so you would not be liable to any affordability tests.
FCA regulated Bridging Loans About
A Bridging loan is used to purchase a residential property or could also be used to release capital from your existing home, this could be for whatever reasons you require the capital for, this could include anything from clearing unexpected bills, raising funds for your business, or catching up with mortgage arrears, in fact, you can use the money for anything you like.
How do I Apply for a Non regulated Bridging Loan?
As an FCA regulated broker, we are well placed to deal with your application for a bridging loan, we just need a quick chat to get a feel for what you are looking to achieve, we can then arrange for you to receive expert advice on the best options that are available to you
Get in touch you can call us anytime 24/7 or fill in the form on this web page and we will contact you to provide your quote.
With over 20 years experience you can be assured of the very best help and advice from our team.
Top 10 finance Ltd is authorised by The Financial Conduct Authority (FCA) no 725234 The FCA do not regulate all mortgages such as Buy to Let and Commercial. Think Carefully before securing debts against your home. Your property could be repossessed if you do not keep up repayments on your mortgage or any other debt secured on it. We are registered and comply with the Data Protection Act (1998). Registration No: Z2861884 Company registered in England number 06261373.