Bridging loans are a short-term option that provide fast access to funding when it is needed most. In most cases, the loan is designed to help with cash flow until you’ve sold your current property.
Interest rates are normally higher than those charged on standard residential mortgages so this type of loan should only be used as a temporary solution.
What are bridging loans used for?
Bridging loans can be useful to people moving home where there is a gap between the completion dates on the sale of their existing property and the purchase of their new one. They can also help clients who purchase property at auctions and require access to funds quickly.
Some examples of where bridging finance may be used for short term solutions;
- Property sale has fallen through or is delayed and you wish to purchase another property
- Purchasing properties at auction
- Temporary cash flow problems
- Property development
- To assist with Buy to let financing
- Renovation of a property
- Land acquisition
- Urgent payment of a tax bill
- Avoiding bankruptcy
- Prevention of a repossession
- Divorce settlement
Blackstone Financial Solutions work with fully qualified professionals who have many years of experience helping clients achieve their goals. They will carry out a full assessment of your circumstances and will tailor their recommendation to meet your specific needs.
Bridging Loans are arranged by introduction to a specialist.
Your home may be repossessed if you do not keep up repayments on a mortgage or any other debt secured on it.
Please call us to discuss your funding requirements on Bristol 0117 403 0097
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