Bridging.
Bridging loans are a form of short-term mortgage lending. One of the ways which they can be used is to bridge the gap when buying a property with time constraints.
A Bridging loan could be used to purchase a property at auction which needs a renovation. The level of renovation could mean that mortgage lenders would not deem it to be mortgageable in its current condition. When purchased with a bridging loan, renovation can take-place, value can be added, and then it can be sold or re-mortgaged in the mortgage market. This is just one way in which a bridging loan can be used, and there are many others.
There are a few bridging finance options in the market right now, and our expert mortgage adviser can assist you in finding the right solution for you. We will always look at the whole picture, and not only at the bridging loan.
The exit from the bridge is vital, so we will look at all of the ins and outs, and have a clear plan for you mapped out.