Bridging loans are most typically used in the aim of assisting somebody to complete a purchase of a property before they have sold their existing home. Normally, this is a short-term access procedure and has high interests rate. Contact us for more information.
Bridging loans can help developers:
- Finance a large order for materials
- Complete a new purchase
- Purchase development land
- Buy properties at an auction
- Refurbish a property
Bridging loans are aimed at landlords and property developers, including situations where a mortgage is needed fast. In addition to these borrowers, asset-rich borrowers who wish to have a straightforward lending process will look at bridging loans. See more information.
Where can you get a bridging loan?
There is not one definition that can fit the appearance of a lender as they come in all shapes and sizes. However, it can be difficult to know how to trust and rely on. From previous experience, we recommend Hunter Finance for those based in the South of England.
As well as providing bridging loans to property developers, they offer intermediaries and development finance. Check out their case studies.
Bridging loans can be used for a number of reasons, including buy-to-let, development and investment. However, due to the amount of time high street and private banks are taking to process applications, there has been a growing trend in this type of loan. See other finance options.
It is also seen as an alternative to typical and mainstream lending.