How can Bridging Finance benefit you?
Speed of finance
Depending on the urgency of the finance, it is possible to raise bridging finance in as little as 24 hours. The more typical deal takes about 5-10 working days. Compare this with a High Street lender that takes on average 12 weeks or 60 days to complete.
All types of property can be financed or act as security
Long term lenders won't lend on property that needs renovation or does not have a bathroom or kitchen but Bridging finance loans can finance such property to allow you time to undertaken the work and then refinance the property.
Bridging loans can be used for any purpose
This give you the flexibility you require to use the funds from the Bridging loan for any purpose you require.
Full Status or Non Status applications
A Full Status loan benefits those that have a clean credit history and can prove income details to the lenders. They benefit from slightly better rates and terms. Non Status bridging loans ignore past credit history and income details. They benefit those can might have some adverse credit history or cannot (or don't want to) prove current income.