Can a non-regulated adviser do a regulated bridging finance case?
Answer no although, I will discuss the following how we assisted a customer in obtaining funding in this circumstance.
The customer resides in their own home with no mortgage or other debts secured.
They wanted to raise funds upon their own home to go towards purchasing another house that also required funds to refurbish and which they wished to retire within.
I explained via telephone that both the required funding requirements would be classed as regulated and explained the reason why.
I took down the details in full, names of clients, addresses, value of home property and purchase price of other.
They wanted both loans over a term of 12 months.
I wrote to a funder with the outline of the case who, lends bridging finance on both regulated and non-regulated contracts.
They said they could help and are connected to an inhouse adviser who is also regulated. He took over the case in full, communicating with the customers and even visited them.
He organized the required funding on both assets for the clients.
The exit of both the funding loans will come from the sale of the current lived in home property and another asset the client owned.
So yes, you can speak with Bridging Finance Now regarding a regulated loan although, we can only take down the details and as in this instance, pass them to a regulated adviser to take over
