Bridging Finance

When you need short term finance

A bridging loan is a short-term loan (usually up to 12 months) secured against an existing property or a property to be purchased. Bridging loans are available on a ‘status’ (income must be proved) or self-certification basis (no proof of income required).

Bridging Finance A fast and flexible method of raising finance.

Bridging loans are a very fast and flexible method of raising finance.

There are two main types of bridging loan: the 'closed' bridge and the 'open' bridge.

A ‘closed’ bridge is only available to homebuyers who have a mortgage offer in place for a property purchase or a signed contract in place for a property sale.

An 'open' bridge is available to homebuyers who have found their desired property but may not have put their existing home on the market or are stuck in a chain and unable to complete on the sale.

Bridging can also be used for many other purposes – the following are typical bridging scenarios:

  • Buying at auction
  • Equity release
  • Avoiding a chain – buy your new home before your present property has sold
  • Property conversions / development
  • Stop repossessions
  • Short-term cash flow – to release equity quickly from the property i.e. to cover a tax shortfall
  • Discounted purchase – to enable you to buy a property at below market value on the condition of a quick completion

"...a very fast and flexible method of raising finance."

Bridging finance is available on both a residential (to 75/80% loan to value) and commercial basis (65/70% loan to value).

Call now on 01392 927327 or contact us for more information.

Some of the products/ services shown are not or may not be regulated by the Financial Conduct Authority

Testimonials