Bridging Loans
Our bridging loan facility can be used in many circumstances and is usually secured against property. This type of loan has a defining characteristic; it is a loan that essentially bridges an exit gap, which is usually a refinance or sale of an asset. Bridging loans can often be arranged within a matter of hours, much quicker than traditional bank lending, with the release of funds sometimes within 72 hours. Loan amounts start from around £25,001 to a maximum of £500,000.
Why bridge?
The main reasons that property professionals use bridging loans are:
- To quickly raise finance
- To refurbish a property
- Complete purchases at auction
- To purchase property that would not secure a mortgage
- To bridge a shortfall of funding between buying and selling property
- To raise a deposit for purchasing property
- To finish a property development