
Bridging Finance
Bridging Finance is a form of short-term finance, normally used to "bridge" the gap between the sale of one property and purchasing another, although they can be used for auction purchases, as well as larger redevelopment or renovation of properties ahead of obtaining a standard mortgage.
They normally present a higher risk to the lender and so they may charge higher than normal mortgage rates, however as they are short-term and designed to fulfil a specific short-term requirement, provided the exit is palpable, then a bridging loan could be suitable.
Lenders understand that time is normally critical and so bridging loans can be completed in as little as 48 hours.
Bridging Finance can be used for:-
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Buying a bargain property at ‘ Below Market Value
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Buy a property which is deemed ‘Un-mortgageable’and requires significant refurbishment.
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Moving home before your current property is sold
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Buying a property at auction and needing funds quickly to complete on the purchase
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Raising cash to buy a Business, Purchase Stock or perhaps buy out a Business Partner
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Raising cash to pay a Personal or Business Tax bill
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Raising cash to stave off a repossession order
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