Bridge to Bridge Finance

The bridging finance market has become much more competitive and mainstream of late.  The products have evolved and the costs have come down. One such example has been the developement of Bridge to Bridge finance.

There have always been clients that have entered into a fixed term contract with a bridging lender, then often through no fault of their own, find themselves unable to repay the loan on the agreed date. This can have very unfortunate implications to the borrower as their property is now at risk.

Bridge to Bridge finance is the perfect answer to the solution, subject to the normal application process it is now possible with this product to repay one bridging company with finance from another.  The new lender will still need to know how and when they will get their money back, but normally the active marketing via an estate agent or mortgage promise from a mainstream lender will suffice.

Another reason to consider Bridge to Bridge finance is to reduce the cost, currently there are many property developers in the market being charged exorbitant rates by banks as they seemed to have no other option. It is possible to take bridging for up to 12 months to repay your developement funding and reduce your monthly outgoings considerabley.