What is bridging Finance?
Bridging Finance is a way to borrow money in the short term. They can be used to ‘bridge the gap’ if you need to buy one property before selling another. Unlike mortgages, bridging finance can be arranged quickly if speed is important.
Here are some examples of when you may consider using a bridging loan:
You are in a property chain that has collapsed and you don’t want to lose your dream home.
You are buying an auction property and need to raise funds quickly.
When buying a property that is un-mortgageable. Your plan is to make it habitable or lettable so a traditional mortgage can be arranged.
Bridging Finance is a secured loan, meaning that you have to secure an asset against them, usually a property or properties. As there is a risk of losing your asset, bridging loans are sometimes known as the loan of last resort.
We are not authorised to give advice on bridging finance. However, if this is something that may be beneficial to yourself, we can make a referral to a specialist firm who specialises in this area.
Secured and unsecured loans are arranged by introduction only