The present property sector is seeing a number of winners emerging as well as the majority of expected people losing out. The number of people losing out is mainly down to the number of new entrant landlords and developers who are now finding it increasing difficult to survive through a very difficult market. Most of these individuals were relying on no money down financing and cash back deals as well as raising equity from purchased property.
There is now a multitude of properties coming to the market and this has given rise to individuals with cash and /or strong equity to maximise opportunities in the present property market. There is agreement across the board that this is the wrong time to put for sale any property, however depending on the price this could be an ideal time to consider potential deals.
There are a number of bridging finance providers who have reacted to this market and developed new innovative products to enable quick completion and the provision of full purchase price funding where there is strong levels of equity available in either the clients own home or other properties.
The current market is and will for the foreseeable future present good opportunities to acquire good quality strong assets and therefore one should consider bridging finance to enable the deal occurring. This is particularly the case where there is a time constraint as most bridging finance providers work on the basis of no requirement for bank statements, accounts, projections, cash flows and also the underwriting is not based on income multiples and purely on the property asset.
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