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We will provide you with the best sourced bridging facility to meet your needs. Bridging finance is generally used to secure a property purchase where the chain has collapsed or purchasing a property that cannot be mortgaged through a conventional mortgage or when purchasing at auction. Bridging can be a fast track funding solution, let us help you get moving…
Bridging Finance - FAQ's
Bridging loans are a form of short term, property-backed finance. They're commonly used to 'bridge' the time between buying a new property and selling a previous one, or while waiting for a regular mortgage to become available. Interest is often rolled up or retained so that the loan doesn’t need to be serviced monthly.
Anyone can apply for a bridging loan, either as an individual or limited company.
Bridging loans are for clients who need quick, short-term capital to fund a property purchase.
Need to complete their sale quickly. This includes property developers, who can often secure a great deal if they buy fast.
Buy through auction. Bridging finance is popular with those buying property at auction. Here, completion has to take place within 28 days, which means traditional financing is not an option.
Are in a broken property chain. With a bridging loan, your client secures their new property before the sale on their existing one is complete.
Want to buy an uninhabitable property. Traditional lenders won't lend on a property if there's no kitchen, bathroom, central heating, or running water (especially buy-to-let mortgages). However, a bridging lender will base its lending on the property’s value in its current condition. This means buyers can access the property while making it habitable.