Bridging Finance is a specialist type of short term funding used for property finance in both the residential & commercial property market.
This product can be used both for purchasing property and releasing funds already tied up in property and can be used for a range of different purposes but is always used as an interim product while waiting on any of the following occurs:
- The property is resold
- The property is refinanced through a traditional lender.
- The property is refurbished
- The property has essential repairs carried out.
The attraction of using bridging finance is that you do not need to tie up all your own funds when purchasing a property for onward sale or indeed you just need to borrow short term on an existing property.
The most common reasons for using bridging are as follows:
- Buying at auction
- Buying a property where refurbishment is required to meet traditional lenders criteria
- Buying at a discounted price for onward sale.
- Expedite completion of a transaction.
There are many different lenders in this market and as such the costs of bridging vary greatly. IDS Finance are specialist brokers in this field and have a large number of lending contacts that allow us to find the best deal suited to your transaction.
We have access to lenders and private funders and can arrange bridging from £25,000 to £10 million. In addition to this, through our private funders we can arrange a bespoke 100% funding product.
For more information contact Iain Sim.