What is bridging finance?
Bridging finance can provide a short-term solution to a financial requirement, allowing you to proceed with transactions and acquisitions swiftly. While bridging finance is primarily used in transactions relating to purchase, refinancing or improvement of property, we can make funds of up to £25 million available for any legal purpose.
Key features of our bridging finance solutions:
- funds of up to £25 million – available for any legal purpose
- terms of 1 to 36 months available – although 9 to 12 months is more common
- no requirement to prove your income – bridging finance is based upon the value of the asset that secures the finance
- solutions available for clients with impaired credit – because the property asset is considered as security
- rapid completions – bridging finance in as little as 17 hours was accomplished
- funding is available for UK assets held in off-shore trusts.
It’s vital you have a firm strategy for how your bridging finance facility will be repaid to the lender, either by the sale of the secured property or by refinancing to a new lender. Having a plan of action in mind from the outset of the financing is essential.