Bridging both ends of the Northern line
Property investors looking to take advantage of current London property prices may well consider pondering over both ends of the Northern line for a bargain. Both Barnet and Morden offer scenic and serene vistas of the nation’s capital whilst providing an easy commute to central London. And to make it even sweeter, house prices are around or below the regional average.
Barnet at a glance
Situated just 11 miles due north of central London, Barnet offers its residents a countryside feel with only a 30-minute commute to the city. The average price for a three-bedroom house in this north London suburb comes in at £603,000 or a rental of £1,886 which is below the Greater London average of £2,104. High Barnet is covered by the Enfield EN5 postcode with New Barnet within EN4. The lure of having a slow down in pace and having the countryside on their doorstep has meant that Barnet has become a haven for families.
Morden at a glance
At the other end of the Northern line, Morden boasts a National Trust owned park and a 45-minute commute to the city. A three-bedroom house in Morden will set you back £475,000 which is well below the Greater London average of £600,145. Rental of the same size property averages at £1,583. Morden is mainly covered by the SM4 postcode, however the most northerly properties fall under the desirable SW19 postcode. To suit the needs of the modern family, Morden has ‘outstanding’ rated schools, a picturesque park and a guaranteed seat on the tube in the morning.
Bridging the finance gap to take advantage
2019 saw a massive slow down in property sales as owners were waiting for an election/Brexit conclusion. So as we kick off 2020, and with the election out of the way, many are expecting to see an upswing in properties coming onto the market.
To make sure investors don’t miss out on any property opportunities as they arise, we offer fast and flexible bridging loans to suit all needs. This form of short-term financing has become ever popular with investors looking snap up bargains as they appear before either arranging a longer-term form of finance or to flip the property in a short period of time.
After an initial enquiry, we can provide terms for a bridging loan within hours, with full funding in place within days. This is ideal both for traditional purchases and buying property via an auction. A bridging loan can range between £50k and £10m with interest from just 0.75%. We offer up to 70% LTV on terms between 1 and 24 months, with no up-front fees, exit fees or ERCs. We will take a view on all applications, so adverse credit, CCJs and arrears will be considered. As well as this, there is no credit scoring and no personal guarantees are required.
If you want to take advantage of a bridging loan to purchase a property, simply call our dedicated team on 0203 051 2331 or use our contact form to get a call back.