Short-term finance secured against a property or “bridging” finance is widely used by property investors and developers as well as business owners for a variety of reasons. Bridging lenders will lend in situations where the more traditional lenders will not, and can provide loans in a much shorter timeframe if a quick completion is required. Acceptable security includes residential and commercial property of any type and in any condition, and land with or without planning consent,
Short-term facilities can be used for as little as 1 day or up to 18 months, and in some cases longer. In most cases a provision for interest is deducted from the gross loan amount on completion of a bridging loan, but some lenders allow interest roll-up if interest cannot be serviced.
As the cost of a bridging loan is higher than a more traditional loan, an exit strategy is important. Exits are usually via refinance or sale on the open market.
There is a massive range of bridging lenders to choose from, so it is essential to have an understanding of the intricacies and mechanics of such facilities so the most appropriate and cost-effective option is utilised, from the right lender.
We can fast-track you through the process and identify the most suitable option swiftly.
If you want a fast, flexible and reliable service, try
Positive Commercial Finance.