Bridging Finance

Do you need a short-term loan to secure your property purchase? Bridging loans are secured against any type or property or land and can be for as short a period as 1 day up to 1 year. We can introduce you to specialists who will arrange the right deal for your needs.

There are a number of reasons why you might need a bridging loan. Typically these are:

Speed – as bridging loans can often be completed within a couple of weeks it enables you to secure a quick purchase if you need to.

Auction property – the fast turnaround means you can complete a purchase within the 28 day period usually required by auction companies.

Broken property chain – allows you to complete on your purchase while establishing a new buyer for your own property. In some instances 100% of borrowing is possible.

Un-mortgageable properties – where funds are loaned on the value of the property in its current state regardless of whether it has a kitchen, bathroom, running water etc. Once habitable, a new mortgage can be secured and the bridging loan paid off.

Property development – gives you the funds to refurbish a property within a short time-scale. This capital ‘bridge’ is also suitable for purchase part-complete projects.

Gain planning permission – bridging against land or property in order to obtain planning and secure development funding, or sell on with the uplift in value.

Lease extensions – a bridging loan can give you the time you need to extend a lease to fully realise a property’s value before re-mortgaging or selling.

Exit Route – As bridging loans are for the short-term you must have a plan in place to pay off the loan. This is known as an ‘exit route’. For example, this could be refinancing of the loan on to a mainstream product such as a residential, commercial or buy to let mortgage, sale of the property or sale of another asset. A viable exit route must be in place at the time of the application and if this fails for any reason at the end of the loan term the property could be at risk of being repossessed.

Commercial financial, some buy to let and some bridging finance is not regulated by the Financial Conduct Authority.

Call us now or request a call back to discuss how a bridging loan could help you purchase your property quickly.