Secure Fast Access To Funds When You Need It
A bridging loan can help you access funds quickly to complete a property transaction. For example, if you want to purchase a new property before your current property is sold or to allow you to renovate a property in a short space of time before selling it on. In these cases, a bridging loan could provide the stop-gap you need.
A bridging loan is a short-term solution which lasts between 1-24 months. They are often used by landlords, developers and people stuck in a broken housing chain because normal funds are not an option therefore a bridge loan is an ideal way to get the funding. Due to the nature of the loan they can be expensive and it is crucial before taking out this type of finance that you know how you will repay the loan, for example through the sale of a property or with funds from a mortgage.