It is generally used by an individual or business to ‘bridge’ the gap until the next stage of financing is obtained.
Bridge loans are typically more expensive than conventional financing options to compensate for the additional risk taken by the lender. They are commonly arranged quickly with relatively little documentation required.
What are the benefits of Bridging Loans?
- Allows you to meet current obligations by providing immediate cash flow
- Short-term loan backed by some form of collateral such as real estate or assets
- Used by companies and individuals and can be customised for many different situations
When does bridging work?
- ✔ Bridging the gap between purchase and sale
- ✔ Bridging tax or VAT returns
- ✔ Auction purchases
- ✔ Development exit
- ✔ Refurbishment finance
SWBF have access to a large number of Bridging Lenders that allows us to be flexible to the needs of our clients. From our base in Bath and serving Bristol and the South West we can commonly lend up to 80% on residential and 75% on commercial but extended LTVs can be found if further collateral can be offered.
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