If you’re buying a property at auction, if you are planning to refurbish a property to increase it’s value and refinance or sell or you simply need to bridge the gap between buying and selling a Bridging Loan may be your best option.
Bridging Loans were traditionally used to buy your new home before you have been able to sell your existing home. Now the most common use for bridging finance is buying at auction, to refurbish property, or raising short term finance quickly.
Available on commercial or residential property,bridging loans can be expensive and are seen as a fast way of raising finance on property and not a long term borrowing solution.
Our mortgage advisors will show you whether or not a bridging loan is the right option to take, what you need to do to get one, and take care of the required documentation and negotiations on your behalf.
Bear in mind that these loans can be a risky choice if you haven’t planned the outcome of your move properly. We recommend you speak to one of our mortgage advisors before considering taking these loans out, as there could be a significant financial impact if not managed correctly. If we think you might be at any kind of financial risk as a result, we’ll suggest looking into other options instead.