Bridging Finance on PropertyInterim financing of real estate
Clients and companies can raise between 50,000 and 25 million with different interest and value based loan repayments available for different conditions. Bridge financing can be an ideal choice if you are a small (or large) property development company looking to renovate a residential building or a single property to be sold at a higher rate but need to lend quickly.
Quick access to funding allows you to speed up the renovation of the property as quickly as possible, so you don't have to suffer undue delay. These types of loans allow the homeowner to quickly obtain cash to buy the new home and then pay it back at a later date when their other property is sold.
E.g.: if you have a pending mortage valued around 100,000, intend to move into a home valued around 400,000 in all, (but your present home is valued at 200,000), you cannot be sure what to do if you are looking to get quick access to finance.
There is no possibility of a hypothecary as this may take a few days and the sale of your present home may take a while. Currently, if you have an outstanding home or bridging credit (also known as a first-charge mortgage) and have any capital that remains, this can be used to obtain another credit, which is another bridging finance usage case for home owners.
Individuals can choose to provide extra funds for an investing option (e.g. investing in another property to refurbish it or investing in a company).