A bridge loan is a short term finance option which can be made to an individual or company and secured against a residential or commercial property or plot of land.
Bridging finance is popular with landlords and property developers for funding short-term projects, and are becoming increasingly popular with home movers, as it can help you to buy a new property, whilst you are waiting to sell your existing home.
There are a number of potential benefits for clients including; quick arrangement time, which can be within 24 hours, daily interest rate and no early repayment charges (on some schemes) – great if you only need to have the loan for a short amount of time.
No credit checks are required for bridging loans. However, lenders will require a completed application form, proof of address, a form of identification, and a copy of your building insurance schedule noting the lender’s interest, which we can arrange for you.
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