Although we cannot arrange Bridging Finance for you, we can connect you with trusted providers.
Bridging finance is a short-term loan that can be used to bridge the gap between two financial transactions.
For example, you might use bridging finance to buy a new property while you’re waiting for your old property to sell.
Bridging finance is available for a variety of purposes, including:
- Buying a new property while you’re waiting for your old property to sell
- Funding major structural home improvements
- Carrying out renovation projects
- Extending a lease
- Buying a property at auction
- Solving business cashflow problems
- Paying inheritance tax
- Repossessing a property
Bridging finance is a secured loan, which means that the lender will take a security interest in an asset of yours, such as a property. This means that if you fail to repay the loan, the lender could repossess the asset.
Bridging finance is typically more expensive than a traditional mortgage, but it can be a useful way to access funds quickly. It’s important to carefully consider your options before taking out a bridging loan, and to make sure that you have a clear exit strategy in place.
Here are some additional things to keep in mind about bridging finance:
- The interest rates on bridging loans are typically variable, which means that they can go up or down.
- Bridging loans are usually repaid within a short period of time, typically 12 to 18 months.
- You will need to provide the lender with detailed financial information, including your income, assets, and liabilities.
- The lender will also need to value the asset that you are using as security.
If you are considering taking out a bridging loan, it’s important to speak to a financial advisor to get professional advice.