![]() ![]() A number of documents will need to be submitted and checked. Alternatively, this can be done after the valuation report has been completed. Sometimes a valuation is not required for example, if there has been a recent survey and valuation on the property, another may not be needed so soon.Īt the same time as instructing the valuer, the lender can instruct a solicitor to start the legal work. A valuer visits the property to write a report on its value to make sure that it covers the value of the loan. Normally, property is issued as security for the loan. Valuation and legal workĪfter you have agreed to accept the loan offer, the next stage is valuation and legal work. A detailed quote will usually be emailed to you. A loan quote will include the value of the loan, interest rates, any fees, and all terms and conditions. Within one or two hours, they will usually have at least one offer of a loan for you. At Ascot, we have relationships with a wide range of lenders and specialise in matching your requirements to the best-suited lenders and loan deals. The loan offerĪfter the broker has understood why you need a loan and is satisfied that you understand bridging finance, they will approach one or more lenders. You may want to know the difference between closed and open bridging finance, or what happens if you miss the repayment date. If you are unfamiliar with bridging finance, now is the time to ask questions. This is a free consultation where you outline why you want a bridging loan, how long you will need it for and how you will be able to repay the loan. The bridging loan process starts with a call to a member of the Ascot team. There are four stages involved in the bridging finance process. ![]()
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