Numerous real estate investors go with private real estate financing to acquire a new property or home, or rehab or refinance one they already own. Although traditional lenders such as banks require a lengthy, time consuming application process and in all likelihood will hesitate to loan money to a self-employed individual, private mortgage loans in Glasgow close fast and are easy to qualify for.

That is great for real estate investors since somebody with bad credit can obtain a private money for a real estate loan so long as he has a promising deal, he has plenty of cash for a down payment, he has proven himself able in past real estate investments, and has a plan for an exit strategy. And with fast closings of only two weeks, private real estate mortgages in Glasgow are an ideal solution for serious real estate investors.

In general, people approach a private mortgage lender in Glasgow when:

1. A remodeling job or renovation will make it possible to market the home for a much higher price or get more rent.

   Real example: one of our clients held a two-unit rental. He held enough equity available in the asset and the rent checks generated regular monthly income. While some upgrades to the units might have enabled him to ask for more rent, a bank would likely have turned down his loan request, because he had a credit score of a mere 520. Accordingly, he reached out to Read Rock Capital to get a cash-out refinance and acquired financing at 65% LTV.

2. They need to combine financial debts.

   Multiple unsecured debts with a variety of rates can be too much to handle and tough to keep track of. On that basis, lots of people borrow against their home equity to merge each of their unsecured debts into just one manageable payment.

3. They wish to allocate their existing equity in one property and invest in a different one.

   One of our clients located in Hawaii had a residence worth $1M. When he was unable to find a buyer for the home, he agreed to a lease-option-to-buy deal with an interested party. The rental agreement payouts helped him meet his current mortgage expenses, taxes and insurance. The renter also put two hundred thousand dollars towards a non-refundable advance payment when he signed the 3-year lease contract. With the help of these sureties to pay for the property's foreseeable expenses, he stumbled on another great investment opportunity and contacted Read Rock Capital to obtain a private mortgage loan around 70% of the home's value. This means that he was able to make his down payment for the new investment, and also help with his existing mortgage.

4. They need assistance to meet the balloon payment for a previous loan.

   If an unexpected event stops a borrower from hitting his balloon payment due date, he can find a different mortgage lender to refinance. A cash-out refinance helps the borrower complete the balloon payment and escape penalty.

Searching for a private mortgage lender in Glasgow to fund your investment purchase? Complete the form on this page or give us a call and let's talk about the project you have in mind.