Bridging finance is for those who require funds quickly, or need a “bridge” between the purchase or refinance of land or property, in order to resolve a temporary cash flow problem.
Short Term commercial bridging finance is available for a variety of purposes.
- To enable the purchase of one property prior to the completion of the sale of another.
- Temporary funding for the purchase of a “defective” property pending completion of repairs and draw down of a long-term mortgage.
- To fund the urgent purchase of a property, pending arrangement of a long term mortgage. This can apply to a buy to let/commercial property when there is insufficient time to arrange a buy-to-let or commercial mortgage to complete the purchase.
- Some bridging applications are referred to a third party in order to maintain a competitive product.
- Rates from 0.75% per month
- Bridging finance from 2 to 24 months
- No redemption penalty options
- Minimum of £25000, no maximum