Peer to Peer Lending
Peer-to-peer lending is now an established source of financing, and we at The Mortgage Shop are ideally connected to facilitate it.
Mature borrowers may struggle to source a conventional mortgage as they get closer to retirement. Others who suffer are the people who own a building plot and need funding to be provided on a stage payment basis during the construction period. A third group are the entreprenuers who need funds to purchase or construct a commercial building , perhaps from which to run their business.
Local banks currently have little appetite for any of these classes of borrowing which has resulted in the growth of peer to peer or private lending.
The concept is simple, as the borrower will usually need the funds for a short period only until they become elegible for a conventional bank mortgage, or they sell the property.
Call the Mortgage Shop today, or drop in to our Broad Street offices to see how we can help.