A bridging loan, whether it is a commercial bridging loan or residential bridging loan, is used mainly to secure property purchases where the chain has collapsed or where the property requires an element of refurbishment. They can also be useful when buying property at auction where deposits need to be paid as soon as the hammer goes down.
- No early settlement fees
- Light, medium and heavy refurbishment
- Commercial and residential buildings
- Auction property finance
- Same day decisions in principle
- Fast turnaround
- Auction condition completions
- 1 to 24 month terms
- 100% advances with additional security
What is a bridging loan
A bridging loan where the applicants intention is to reside in the property as their principal residence is a form of short term funding secured against property, either residential or commercial. The traditional bridging was used to complete when a property purchase chain had broker down, however, more recently the variety of purposes where bridging loans are used have increased over the years since the credit crunch and it now is more widely known as a short term loan.
Bridging loans can be arranged under the following circumstances and terms;
We are often able to arrange an agreement in principal for our clients within 2 working days of receiving your enquiry.