Our Loans Process
What does a Master Bridging Broker do?
We use our extensive experience and expertise to help and guide our introducing brokers, in order to identify the bridging loan that most closely meets their clients’ needs.
What is a Bridging Loan?
Bridging Loans are a short-term facility, and like a mortgage are secured on property or land. They are generally used to provide a temporary cash injection.
What are the advantages?
Speed and convenience are two of the main advantages of short-term funding: bridging finance is much faster and easier to arrange than a conventional mortgage and can provide rapid funding, with a more flexible application process and less rigid lending criteria.
What are Bridging Loans used for?
As the name suggests, bridging loans are generally used to bridge a gap between two transactions. For example, a client may wish to purchase a buy to let property at auction. In this case, a bridging loan would be used to complete the purchase and would then be paid off when the borrower refinances onto a conventional mortgage.
Bridging finance serves a key role due to the fact that high street and private banks often take weeks or months to process a mortgage, which is awkward when the need is time-critical. These lenders may even refuse to offer a mortgage if the property is in need of building work.
There are many reasons why people may use a bridging loan. Some examples are:
- Property development.
- Property purchase.
- Property refurbishment.
- Deposit for another property.
- Pay off a tax bill.
- Purchase of a property overseas.
- Extend property portfolio.
If you have any questions about bridging finance, you can contact us or one of our bridging advisors on 01344 567767 (Monday to Friday from 09.30 until 17.30). You can also email us at: email@example.com.