A real estate investor finds an attractive property ideal for rental in a highly competitive market and needs to act quickly to secure it. The standard mortgage process, however, is too slow for the urgency of the situation. Similarly, a construction company requires immediate funds to cover material costs while waiting for a longterm loan or grants, and an independent consultant needs to cover operating expenses while awaiting payment from clients.
You take out a short-term bridging loan of up to 24 months to make the purchase. This loan allows you to purchase and refurbish the property to make it rentable, while at the same time you work towards obtaining a conventional buy-to-let mortgage, which acts as a long-term financing solution.
At Paragon, we believe that a bridging loan and interim financing should either generate profits or savings for you. The main advantages of a bridging loan over traditional financing options are quick processing, quick response, settlement, the ability to make individual decisions, and flexibility.
Paragon Invest makes loan decisions within 1-2 days after receiving your inquiry and aims to disburse funds within 2 weeks from application and submission of all documents. This rapid processing ensures that you do not miss important and favorable opportunities.
Paragon Invest primarily accepts first-rank mortgages as security for interim financing. Second-rank mortgages may be accepted exceptionally at low LTV or with additional guarantees.
Furthermore, we consider all types of credit histories, whether perfect or not. Our focus is on the quality and value of the property serving as security and the repayment plan.
There are three methods for Initiating your application:
1. Use our inquiry form for a quick response
2. Send us your inquiry by email
3. Call us and get expert advice from our colleagues or leave a callback request
Once we receive your fully completed inquiry, we will evaluate it according to our standards. If the criteria of your inquiry meet our requirements, we will send you a preliminary ocer. We can usually submit this preliminary ocer within 24 hours.
We will commission an appraiser from our selected panel to assess the value of all properties used as security for the loan. The costs will be agreed upon with you. Our appraisals are usually completed within one week.
You will receive a checklist of all requirements from Paragon Invest GmbH. If the appraisal meets our standards and the conditions previously agreed for the loan, and confirms the estimated value of the security, we will notify you and proceed with collecting the necessary documents.
Once Paragon has received and reviewed all necessary responses and supporting documents, the loan contract and notary appointment can be prepared.
There are three methods for Initiating your application:
1. Use our inquiry form for a quick response
2. Send us your inquiry by email
3. Call us and get expert advice from our colleagues or leave a callback request
Once we receive your fully completed inquiry, we will evaluate it according to our standards. If the criteria of your inquiry meet our requirements, we will send you a preliminary ocer. We can usually submit this preliminary ocer within 24 hours.
We will commission an appraiser from our selected panel to assess the value of all properties used as security for the loan. The costs will be agreed upon with you. Our appraisals are usually completed within one week.
You will receive a checklist of all requirements from Paragon Invest GmbH. If the appraisal meets our standards and the conditions previously agreed for the loan, and confirms the estimated value of the security, we will notify you and proceed with collecting the necessary documents.
Once Paragon has received and reviewed all necessary responses and supporting documents, the loan contract and notary appointment can be prepared.
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