Bridging loans

Bridging loans are a temporary short-term loan, intended to be used to ‘bridge’ a gap in finances when purchasing property.

They are often used to purchase a property while waiting for the sale of another to complete. For example, a residential buyer may use a bridging loan to secure a deal on a preferred property while their existing home is sold. A bridge loan could also be used when buying a property at auction, where the deal would need to completed almost immediately. They can also be used when buying a property to renovate and sell on.

Bridging Loans are considered a specialist but flexible finance option and for this reason are often used for commercial property refinancing.

Because a Bridge Loan is only intended to bridge a gap in available finance they are typically provided at higher interest rates than longer-term mortgages. The term of the loan is typically 2-12 months but can range to a couple of years. During the agreed term the loan is secured against equity in the property.

No matter what the purpose of the loan, bridging offers a wide range of personal and business financial solutions.

To discuss how we can help you with your case, contact us today at 0800 567 7884

Image result for bridging awards logoImage result for bridging awards logo

Call us now on 0800 567 7884

Or leave a message via the form below