Bridge loan financing is an equity-based short-term loan solution, designed for borrowers who need fast financing without the stringent requirements of conventional underwriting.
As bridge loans are secured loan, it is possible to make quick decisions on loan applications for the properties located in the United Kingdom. Usually for this to occur the loan amounts would fall within the range of £10,000 to £500,000.
Bridge loans can be extremely useful in helping speed up property transactions and prevent sales from falling through. For example, if a property is stuck in a chain, and a cash buyer comes along, the seller could be swayed to pulling out of the sale in order to sell the property quickly. This is especially common in auction purchases which impose strict time limits on sales being completed.
In these types of scenario, by utilizing a bridge loan, the borrower can secure the funding needed against the capital held in the existing property. They can then use these funds to complete on the property they are looking to purchase without having to worry about selling the existing property beforehand.
Bridge loan financing fills the gap between selling the existing property and completing on the new one. As well as helping to secure the property, this also means that you can begin any works required on the property, thus allowing the property to be turned around much, much quicker. If the property is being bought as a buy-to-sell, this means the property can be marketed and sold quicker also.
Bridge loan financing can save you from losing money already spent in the purchase process, reduce stress and protect you from serious financial difficulty.
Commercial Bridge Loan Financing
At Bridge Direct, we offer bridge loan financing for any business requirement, including purchasing multifamily apartment buildings, mixed-use properties, retail properties, office building and many more.
We work directly with borrowers who may not have the time to meet the stringent requirements of conventional underwriting guidelines by providing fast, creative financing solutions to get loans funded quickly.
A Bridge Loan Financing Company in the UK
Bridge Direct is a bridge loan financing company and offers the bridging loan services in London, Manchester and other cities of the UK. They offer the bridge loan finance for residential and commercial properties.