If you need money fast, without many of the usual checks involved with applying for finance, you might wish to consider a Bridging Loan.
These are loans which are designed for use over a short period of time, periods of a few months rather than years. The two main scenarios that we most often come across are as follows:
-A client has found a property which they wish to buy, but hasn’t yet sold their existing property, the money from which is needed for their onward purchase. In these cases, a bridging loan can be arranged quickly, which ensures they won’t lose their desired property. Once the existing property has been sold, the bridging loan is repaid.
-A client either owns a property or wants to purchase a property which is in a state of disrepair and which is therefore un-mortgageable. Bridging finance can be arranged quickly, in order to provide funds to refurbish the property. Once the property has been repaired, funds can be sought from mainstream lenders and the bridging loan can be paid off.
Bridging loans are generally offered only by specialist lenders and our status as a Directly Authorised firm allows us to work with providers across the whole of the market. We are confident that we can source finance in this area in all conceivable circumstances.
If you are considering a Bridging Loan, click here or call us to speak with one of our advisers.
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About Clifford Davis
Clifford Davis is a premier provider of property-related financial advice. Based in Barnet, North London, we pride ourselves on being able to advise and to provide guidance in all areas of property-related finance.