Private mortgages are expensive and are only something I will enter a client into if we have a very clear exit strategy and the benefits outweigh the risks. Typically a private mortgage will carry a 1-3% fee and be at a high interest rate.
So what are three situations where we typically use private lending?
What you will notice about all these scenarios is that they are short term and there are exit strategies for each one. Using private lending has to make sense for the client and in these three scenarios it often does. We have private lenders that can provide us with funds within 24 hours, should you fit into the above scenarios or something else that could use their funds wisely.
For more information, contact us to discuss private lending today.
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