"If you would like access to over 100 bridging loan providers with the most competitive terms, speed of service and flexible underwriting, you have come to the right place."
Bridging and Development Finance

Bridging Finance, prior to the recession in 2008, was affectionately known as the “ chain breaker “ and was used primarily when a client was trying to purchase a property and the sale of their existing property was due to complete at a later date. This gap was able to be filled by bridging finance, which allowed the property chain to complete on schedule.

Bridging Finance, Purchase of Land, Development Finance, Portfolio Investment, Buying at Auction, Buying Below Market Value, Where speed is the issue to Complete, Chain Breaker, Release Capital, Pay Off Short Term Debts, Improve Cash Flow, Bad Credit Profile, Purchase or Remortgage of Residential or Commercial Property.

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More About Bridging Finance and Development Finance

Bridging Finance, prior to the recession in 2008, was affectionately known as the “ chain breaker “ and was used primarily when a client was trying to purchase a property and the sale of their existing property was due to complete at a later date. This gap was able to be filled by bridging finance, which allowed the property chain to complete on schedule.

During the recession bridging finance evolved and has now become almost like a multi –purpose tool that can be used in many different ways to help solve short term financial problems.
There are now over 100 providers in this very competitive market and this competition has seen interest rates and fees cut back to far more acceptable levels, with new lenders and existing ones trying to be more innovative and flexible with the new products and terms.

Where bridging and development finance has really taken off, is in the property market where developers are looking to purchase and refurbish a property that would not normally be mortgageable, because of its condition or the unusual nature of its construction. Many of these properties are bought at auction, or from estate agents, and are in real need of care and restoration when they have been repossessed, or left vacant for a long period to fall into disrepair.

This is where bridging finance comes into its own as prospective buyers have to focus the mind to make sure the timing and the quality of work is fit for purpose.
A bridging loan is a bricks and mortar loan, with no requirement to service the debt during the agreed period of the facility and the interest and fees are all rolled up into the loan. From a cash flow position this is good because it allows the client to focus on the works required, and the time frame to which they have to work to.

It is possible to have a drawdown facility agreed from day one, linked to a schedule of works with a re-inspection at each stage, to agree the works have been completed, followed by the release of funds.
What all bridging lenders require is a viable exit route to the facility, which could be the sale of the property or refinance onto a mortgage product, or onto another bridge.
With most bridging or development loans being spread over 6—9 months, you can appreciate the importance of planning, and working to a very tight time frame. Short term funding is not cheap money, but one very good point is that when you complete the works and sell on, or refinance, within the agreed period, any unused interest is refunded to you.

With this in mind we would always recommend that the client builds a little extra time into the facility, in case of unexpected problems, which could cause the project to overrun when the penalties could be severe.
What we are seeing a great deal of in this busy market is the facility to purchase on a bridge, which would then transfer onto a Buy To Let mortgage when the works are complete. This would be seen as a light refurb, which would normally take around a month to complete, and the BTL mortgage would be based on the increased valuation of the refurbished property plus the enhanced rental income.
Bridging finance can be used for residential or commercial property purchase or renovation, with a timeframe normally of between one and eighteen months, and as previously mentioned, funds can be drawn down, by agreement, at various stages of construction to keep the cost of borrowed funds down.
We are also seeing clients borrowing money short term to pay off debts, finance the purchase of goods, pay tax bills and in general terms raise money very quickly, without having to service the debt and without having to prove affordability, only the exit route.