Bridging Finance is a short term loan that provides fast access to funding when it is needed most. Bridging loans can be used to raise funds for any legal purpose, generally last no longer than 12 months for regulated loans, or 18 months for non-regulated loans and will normally require you to have a strategy in place to ensure that you can repay the loan.
The rates of interest and fees charged can seem high when compared to standard residential lending, but a short term loan now could mean you secure the place of your dreams, are able to renovate a property and increase its value beyond the cost of the bridging or are able to carry out essential repairs so that the property becomes eligible for mainstream lending.
Here are some examples of where bridging finance can be used: