With property at the core of their philosophy, building societies have long been a strong option for those looking to secure property financing and Bridging finance is one of the more respected high street branches – surely, they would be perfect for a bridging loan?
However, despite their mentioning the concept of bridging loans on their website, Nationwide seem reluctant to offer the service for their customers – what’s going on?
Why do lenders use brokers for Nationwide Bridging Loans?
The level of complexity and paperwork required to make a bridging finance deal take place without a hitch requires an experienced professional to work hard and fast – completing a complicated financial and legal transaction in a very limited timeframe. Banks and other lending platforms prefer to leave the bulk of this difficult work with the brokers.
Brokers work as an intermediary between the end customer and the bridging loan provider – they are able to use their expertise to find a bridging loan that is perfectly suited for the task and then go through the tightly regulated motions in order to make that loan happen within a short space of time. Often a broker can make a deal go from start to finish inside of 24 hours and also a broker can get preferential rates that a lender would not offer directly to the borrower.
It is important that a potential customer goes through a full brief of understanding before taking out the bridging loan – the lending companies understand this and are more than happy to leave this particular portion to the broker who can easily change track should the first option turn out to be unsuitable for the client.
Bridging loan lenders are keen to have the right customers come to them and not have to put in a considerable amount of work only to find the client turn away at the last hurdle.
Is Nationwide the best option for me?
It’s very likely that in the course of discussing your need with a broker, you are going to uncover a multitude of factors that show your original first choice of the lender to be lacking everything you need. Don’t worry! The broker will be able to look at your specific requirements and take everything into account to choose an alternative – plus, if there is a Nationwide loan that is the right choice for you, he can negotiate that deal through to conclusion too.
How do I get the best deal?
When it comes down to bridging loans, a few percentage points difference in the interest rate can make a world of difference to the end amount repayable. We can help you find the very best deal by making a comparison between multiple lenders, whether that is high street names like Nationwide or some of the strong companies that specialise in this type of instant financial product.
For more information on bridging loans, take a look at some of our other articles or call us today!
Easy Bridging Loans can arrange your loan with ease and will guide you through both the choice of loan and all of the processes that are associated with taking a bridging loan, because we specialise in this type of finance and nothing else, we will always have the answers to any problems that could be encountered along the way.
Get in touch now to discuss your requirement as professionals in this field and know the industry inside out, call us today or complete our online form to get things started.
"Great Company to work with arranged my loan at a very good rates and was able to talk to Zara any time to deal with any problems I had
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