Bridging Loan Types

Adverse Bridging Loan

Customers can be considered for all types of bridging finance even if they already have adverse credit for example Defaults, CCJs or Missed Payments, although they may incur a higher rate of interest.

Bridging loans can also be used to clear or stop adverse credit being registered. For example, a bridging loan can be used to stop repossessions taking place or the need to look at IVA’s enabling solutions for people about to loose their home.

 

Commercial Bridging Loan

Commercial Bridging Loans can be used for the purchase or re-finance of commercial units owned for similar reasons as the residential bridging loans but obviously secured on the commercial unit.

Commercial Bridging Loans can also be used for property development i.e. the purchase and development of housing / commercial blocks or estates.

 

Residential Bridging Loan

A bridging loan can be used for many reasons but most commonly to provide quick funds to assist customers in funding unexpected demands or needs for large amounts of money for example, a wedding, tax liabilities or to stop action from creditors due to adverse, for example, pending repossessions.

All of the above which can be secured on your residential property or across residential investment properties e.g. the purchase of Buy To Let properties.
 
Auction Property Purchase

Bridging Finance is primarily designed to enable customers to access large amounts of monies as fast as possible and auction properties are a prime example of this. When purchasing a property though an auction the purchaser has 28 days to complete the purchase. This is quite often too short a time period for most banks. This is were bridging finance is ideal as loans can be agreed in just 24hrs and monies released as quickly as 5 days it is perfect for ensuring you have the monies ready within the 28 days.

 

Buy To Let Bridging Finance

Bridging finance can be used to purchase investment properties for a number of reasons but short deadlines or Day One remortgages are the most common examples. These loans are treated like Residential Bridging Loans and can be secured over a number of properties.

Property Development Bridging Finance

Property Development Bridging Finance is generally a higher level of bridging meaning higher loan amounts borrowed over a longer period, such as the purchase and development of blocks of flats or housing estates etc. Other examples include conversions such as barns or out buildings.

Farmland Bridging

Bridging Finance can be secured on a number of different property / land types and can range in the maximum Loan to Values available.

Farm Land Bridging is just one example but can be used to secure, business injections, property conversions or even to purchase the land whether for a business start up or property development.