Benefits of bridging loan finance
If you are currently selling a property and looking to acquire your next property prior to sale, bridging loan finance could be the ideal solution. Bridging loan finance is designed to bridge the gap between sales and purchase, and keep your cash flow flowing. Bridging finance usually has a slightly higher interest rate than standard financing and a 12-month repayment term, reflecting the purpose of a bridging loan.
Bridging loan finance is not designed to be a large-scale loan or a permanent solution. Instead, it is intended to be a short-term aid for your pressing funding needs, and to remove the risk that the property you want to purchase gets snapped up by another buyer while you are waiting for funds. Our team are well versed in buying and selling property and can provide in-depth advice at each step of your property journey.
Get in touch today to learn more about bridging loan financing, and make your new property purchase a smooth one.
When to use a bridging loan finance solution
Perhaps you have found an ideal new home or investment property but must first sell your current property to finance it. All is going smoothly but then there is a delay, and the buyer of your current property needs a little extra time to settle. This delay is passed onto you, forcing you to hold off on your new property purchase.
The risk is, the property you want to purchase may get snapped up by another buyer while you are waiting for settlement and funds.
This is when bridging loan finance can make all the difference and is designed to provide short-term funding so you make the new property purchase and eliminate any delay. A temporary cash-flow issue can result in large-scale implications at each step in the property purchasing chain. Bridging loan finance ensures that both the sale and purchase can be completed promptly.
Get the right bridging loan finance
Our team are well versed in the complexities of purchasing and selling a property and offer in-depth advice and assistance at each step in the process. Get in touch today to learn more about bridging loan financing so your property purchase goes smoothly.