Bridging and the self-employed

The self-employed numbers are increasing year on year within the UK and the trend is likely to continue as the job market shrinks.

This increasing sector of the UK workforce is the most in need of specialist lending and its little wonder bridging is used on a regular basis. Bridging finance is going from strength to strength and figures show the self-employed used this facility more in 2015 than any other year recorded.

High Street lending facilities struggle to help the self-employed and if they have a mind to assist in securing a loan it seems to take forever.

Bridging lenders have picked up on this weakness and produced products to suit almost any situation the self-employed may have. Lenders are reporting over the last three years lending to the self-employed has more than doubled.

All these facts and figures basically apply not only to the self-employed but pretty much anybody who is not in standard employment. Regular Banks and Building Societies seem to class this category of the work force as “too difficult” thus the need for specialist lenders.

Why bridging?

There are many reasons for selecting bridging finance some of which are listed below.

1. Fast completion
2. No proof of income required
3. Vast array of uses
4. Cost effective interest rates
5. Various repayment strategies

Like too know more?

If you require assistance in raising finance please do contact one of our fully qualified advisers who will be happy to guide you in the right direction.