BRIDGING FINANCE
We’ll secure the right bridging deal for you
If you are looking for bridging finance, our specialist team of bridging loan brokers can help you find the best deal.
What is Bridging Finance?
Bridging finance is a type of short-term financing that can help individuals and businesses to bridge the gap between a property purchase and a more long-term funding arrangements. Bridging loans are often used to purchase a new property before the sale of an existing property, or to finance a property development project.
There are different types of bridging loans. They can be used to secure funds for quick completions on residential or commercial properties, or to raise funds for property refurbishments. Bridging loans can also be used in cases where normal mortgage funding would be unavailable, for example where a property is deemed to be uninhabitable due to having no functioning kitchen or bathroom.
Once the borrower has sold their existing property or completed their property development project, they can use the proceeds to repay the loan. Alternatively, they may be able to refinance the bridging loan with a cheaper longer-term financing option, such as a mortgage.
When is Bridging Finance suitable?
Opting for a bridging loan typically occurs in scenarios that require immediate funds and swift property acquisition. Let’s take a look at a few examples:
Urgency and speed: Bridging finance might be appropriate in situations where speed is paramount. For example, when a buyer needs to secure a property in a short time frame, such as in auctions or time-sensitive deals, bridging finance can offer quick access to funds, as opposed to the lengthier and time consuming process of a normal mortgage application approval.
Temporary financing: When a borrower anticipates a short-term funding shortfall – such as awaiting the sale of another property to fund a purchase. In this scenario a bridging loan provides temporary financing for up to 12 months. When the sale of the first property has taken place, the borrower can then refinance on a longer term mortgage.
Flexibility in property types: Bridging loan lenders are more flexible in relation to property conditions or types. Specialist bridging lenders will consider properties that don’t meet the lending criteria of traditional lenders. This may allow a borrower to purchase a property needing extensive renovation or unconventional conversions.
Immediate investment opportunities: When an investment opportunity arises that requires immediate funds, such as securing a property with the potential for high returns, bridging finance enables an investor to act quickly. Bridging finance enables an investor or developer to take advantage of time-sensitive investment opportunities which may not otherwise be feasible through traditional mortgage funding.
How Does Our Bridging Finance Service Work?
Step 1.
Enquire online via our website - you can either call or email us, or arrange a callback at a time convenient for you.
Step 2.
Initial consultation - after a thorough understanding of your needs, we will find the right bridging loan for you.
Step 3.
We'll arrange all of the paperwork for you - we will work efficiently and proactively all the way to completion.
Our bridging finance team is committed to providing the highest quality advice and service to clients throughout the UK.
Whether you are a residential buyer looking to fix a broken chain or an experienced investor looking to secure short term funding for an investment opportunity, our specialist bridging finance specialists can help.