Do you want to develop a property but can't due to lack of funds?
Bridging finance is a short-term loan to help you fund a temporary shortfall between selling one property and buying another, or to help you build property and sell it at a profit. It's also known as bridging finance, bridging mortgage, or construction finance. Bridging loans can be up to 50% of the valuation of the property you are building or renovating for sale. A bridging loan is typically paid back within 6 to 12 months after the sale or refinance of your property or other assets. The interest rates can vary from lender to lender but it is usually around 8%.
With bridging loans, here are some of the things you can do:
• Pay for building work
• Buy land to build on
• Fund the purchase of your new business premises
• Pay to renovate your current property if it's not selling as quickly as planned
• Fund the purchase of your next property if you don't have enough money for a deposit
• Refurbishment of your property so it's ready to be sold on.
It's easy to apply for a bridging loan. Our quick and straightforward application process means you can complete an application in minutes and know that we're working around the clock to help you get approved quickly. If you're looking for a fast and effective loan application process, apply online today.
Do you have a property that you want to develop but not enough funds to do so? Our bridging mortgages give you access to finance from £200,000 onwards, depending on your project. Talk to our experts today on 0203 2909019.