What are Commercial Bridging Loans?
A bridging loan is a short-term financing solution in situations where speed is important. For example if you want to buy a property quickly to take advantage of a competitive price or perhaps avoid repossession on a property, a loan can be raised in a matter of days. Bridging loans can be an expensive form of finance and are only intended to be a temporary solution that will typically be secured on commercial and residential property.
In exceptional circumstances funds can be raised within 5 working days provided there is sufficient security. This type of loan can generally be used for any purpose and range from lending periods of 1 to 12 months.
Bridging loans are available for all types of applicants and financial status may not be a problem depending on circumstances. They may even be available for those with previous credit problems such as CCJ’s, IVA’s and discharged bankrupts.
- Fast completion on property purchases
- Repossession problems
- Urgent working capital
For a no obligation discussion or more information on any of the above, call our enquiry team on 0800 085 1706, we’ll be happy to help.