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Bridging Loans
A bridging loan, also referred to as “short term finance” or “bridging finance” is a short term loan, normally it is used when buying a house. For instance, if the sale of your existing house falls through for various reasons, or you may just want to move into your new home ASAP, then you can use a bridging loan to buy your new home, before the sale of your current home. The main advantage of a bridging loan is its quick, you can get the money you need in order to move ahead with the purchase of your new home, but as always, there are disadvantages, the main of which is a high interest rate. Bridging loans can be provided for:
- Residential property purchase
- Commercial property purchase
- Land purchase
- New build
- Renovations/Refurbishment
- Speculative properties
- Conversions
- Overseas Property
Alternatively, bridging loans don’t just have to be used for property. They can also be used for holidays, weddings, cashflow help, Inland Revenue etc.
If you would like someone to contact you regarding a bridging loan, please fill in the form below.
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