Bridging finance could be a great option for your property development project, as the majority of lenders do not require certain work to commence before they release the funds to your account. You can access a substantial amount of finance within a short amount of time to ensure that you can proceed with your development project.
There are various short-term property development finance options. However, the majority of these products are not advertised on the high street or featured on comparison websites.
If you require short-term finance, the best course of action is to contact us and speak with one of our specialist finance brokers. We can utilise our ever-expanding network of lenders to find the best short-term finance deals for you and your development project.
Bridging finance is a essentially short-term funding option used to 'bridge' a gap between a debt coming due and the main line of credit becoming available. It can also be used to fund a new purchase as a means of short-term credit, typically up to a term of 1 year, and is relevant when a conventional form of lending is unavailable / unsuitable.
To apply simply get in touch with one of the team, who will talk you through the options and take further details from you as to your plans. Click on our ‘contact us’ page for details on how to get in touch with us.
In order to qualify for a bridging loan there needs to be a valid reason for the finance. This can cover a range of areas, which our advisors will help you with. There are lenders who will be comfortable with poor credit profiles and low income situations, whilst the most suitable lender and deal will be determined by the overall lending proposal.
Arranging a bridging loan can be done relatively quickly if needed. We’d act promptly to get your file built so there is no delays in providing the advice and submitting the subsequent application. Our case management team will then work closely with yourself and the lender to ensure a swift turnaround time is met.
With most lenders this can be optional, as they’ll be deals whereby monthly payments are applicable, whilst you can usually opt for a deal whereby interest payments are added to the loan and repaid once the loan comes to an end. Your broker will guide you on the options available and advise accordingly.
Our brokers will weigh up for you if a bridging loan is the most suitable option available to you, and will compare this to the prospects of obtaining a conventional mortgage arrangement, and the likelihood of this being achieved. You can be rest assured that we’d advise you on the absolute best deal available to you.