Investing in Hackney Property

Hackney is located in East London and is one of the capital's 32 boroughs. It was originally a rural area of grassland and farms, which eventually gave way to suburban development in the late 19th and early 20th centuries. Its history is rich, with roots dating back to the Roman era.

Over time, Hackney has been a hub for different waves of immigration, which have greatly enriched its cultural and social fabric.

Hackney's population is estimated to be approximately 280,000. It has become one of London's most desirable and trendy areas to live in, attracting a diverse demographic due to its mix of historic and modern housing, green spaces, and cultural opportunities.

The borough's housing market has seen substantial growth over the past decade. This can be attributed to the significant regeneration the area has experienced. Hackney has seen considerable investment, resulting in new housing developments, improved public transport links, and increased local amenities, all of which have made it an attractive location for both investors and homebuyers. You can learn more about Hackney by visiting the London Borough of Hackney Website

Speak to our dedicated Bridging Finance Hackney team to find out how we can help you with your next property project.

Contact us today on 020 3645 4322 or use the form below to request a call back.

Chain break purchase
This occurs when a buyer has found a new property but must complete immediately or face losing the property because the vendor does not wish to be in a chain. Alternatively clients may not want the added pressure of selling at the same time as buying or simply do not have time to sell their current home.

Also, a client may have lost the buyer for their existing property and time does not allow a new one to be found. In this instance, rather than waiting until a new buyer comes forward for the existing property and risk losing the new home, a bridging loan may be a suitable alternative.

Below Market Value Purchase
This is where a buyer has negotiated a purchase price well below the properties current value. Subject to the value of the property being confirmed it is possible to arrange a bridging loan that is based on the current value of the property and not the actual purchase price.

This means that the discounted purchase price can reduce the amount of cash deposit required. This type of loan is typically repaid via a remortgage or subsequent sale of property. Please note the remortgage cannot always be done within the first 6 months of ownership.

It should always be noted that given the nature of bridging funding, it is more expensive than a standard mortgage and should be considered only as a short-term funding option. It is also essential to establish the exit strategy at the point of application to ensure the loan can be repaid.