Bridging Loans
A bridging loan is simply put a short term mortgage. These are designed to see you through a period when a traditional mortgage is either not available or not appropriate for your circumstances. We have in-depth specialist knowledge in this sector, that allows us to either find you the best lender or create a bespoke loan tailored to your specific requirements. We also have access to the whole market including mainstream lenders, challenger banks and private finance lenders.
Typical scenarios:
- downsizing
- chain-breaking – where you need to complete quickly on a purchase but have not secured a buyer for your current property
- purchasing a property that requires refurbishment before it can be mortgaged to a normal lender
- moving extremely quickly to secure a property where you are up against other bidders
The flexibility and skills we have to obtain you a bridging loan is unique: We can use multiple properties as security and have lenders that will consider flexible repayment (or exit) routes. We have used pension schemes, maturing investments, even the sale of fine art. Remember though, the bridging loan is always secured against property which means if the exit route does not materialise the property is at risk of repossession.
We can even ‘re-bridge’ (refinancing an existing bridging loan) if your current bridging loan exit plan has not worked as planned.
The circumstances and scenarios where bridging can be useful are many. Ask us how we can help you.
