A bridging Finance loan typically takes less time to arrange and can be invaluable in helping with Auction Finance and other situations that require Quick, Short-Term funding with flexible income & property requirements.
If you are considering bridging finance be sure to take a look at some the factors that make this type a loan suitable in different situations. We included below some examples of common situations where a Bridging Loan might be the right option for you.
Speed
Faster processing times enable you to satisfy strict purchase deadlines for example auction purchases.
Flexibility
Bridging loans often have a more flexible property criteria, thus covering properties unsuitable for conventional mortgages.
Short-Term
Buy time to overcome the immediate hurdles and conduct the actions required to provide refinance or sell the property.
No Income Proof
Easier to qualify as many lenders concentrate on the value of the property than on your income.
Poor Credit
Bridging loans can be available to individuals who have had credit problems in the past but require short term finance.
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Some Important Points
A bridging loan typically takes less time to arrange, however, it is not always the most cost-effective solution. We will use our knowledge and expertise to ensure that all avenues have been explored before recommending a bridging loan. If it is the correct solution based on your circumstance and there is a clear exit strategy in place, then we will be happy to advise & recommend a suitable bridging product that will assist you in meeting your goal.
