Bridging loans can be used for a wide variety of short-term loans. We have assisted our customers;
- Requiring funds to complete on a last-minute deal, needed to purchase within two two weeks to then undertake renovation work and remortgage on a longer-term loan.
- Needing a bridging loan to buy a property below its market value, then able to complete the purchase with a loan deposit based on its higher value.
- Saving thousands of pounds in fees with a bridging loan on a buy-to-let, with an option to purchase the property and also providing the funds to renovate the property. On completion of the work the bridging loan changed to a long-term mortgage. Using the same funder for whole process saved money on multiple valuations and legal fees.