Sometimes the property deal of lifetime can be presented to you but you can’t move quickly enough because you don’t have the cash to hand and so someone else is left to profit from the deal.
Bridging Loans allow you swiftly access to funds on a short term basis which will allow you to complete the purchase of a property within a very tight timescale. This will not only secure the property but a Bridging loan will buy you precious time to source a more appropriate long-term financing solution.
A bridging loan is used to finance the purchase of a building that can be a:
A bridging loan can also be used to purchase a building which requires refurbishment or renovation. You purchase the property funded via bridging loan, undertake the required work and then re-finance based on the higher valuation or sell the property and realise your profit.
Here’s an example of how a bridging loan helped one business owner secure the future of his business.
Obviously the better prepared you can be prior to going to an auction for example then the easier it will be to arrange the ideal bridging loan.
However, if speed is of the essence and everything is in order, a decision can be reached in 48 hours with funds available within 5 days.
Bridging loans are typically available on terms ranging from 1 to 12 months.
To find out more simply send us an email via the Contact Us box at the foot of this page or call us on 08456 809 728.