A private mortgage, unlike many others, doesn’t require a down payment. Instead, it’s a short-term, interest-only loan that lasts anywhere between 1-3 years. Typically, private mortgages are for those who are financially stable and able to return the loan within a short period of time. This will save the hassle of paying unnecessary interest rates over longer periods.
Private mortgages can be obtained through syndicates or mortgage investment corporations. A syndicate is when a small group of investors for a funding account and are willing to give out loans to an individual. Mortgage investment corporations are also a group of investors however they are available to loan out several mortgage deals at once.
Edward Barr will help you evaluate your current financial situation and see if a private mortgage is the right plan for you.