In this interview, Danny Scoltock, TAB’s head of underwriting, answers questions about the underwriting process from start to finish and discusses the benefits and challenges of being an underwriter.
An exit strategy defines the plan that the borrower intends to use to repay their bridging loan, but why is it important, and what do you need to think about when planning yours?
Residential bridging loans provide short-term finance for many to cover a property purchase until a mortgage can be arranged. These loans can also help to bridge the gap between buying a new home and selling another property. If you’re in the process of property hunting, perhaps you have your eye on a buy to let investment, a residential bridging loan can help you obtain ownership. This gives you breathing space to then secure long term finance from a mortgage provider.