Self Employed and bridging finance

At fastest bridging we are often asked if it is possible to lend to the self-employed. Well the answer to this is yes lenders are happy to advance loans were as banks would say no.

The self-employed work force will know only too well how difficult it can be to raise funds or indeed secure a mortgage. Good news is bridging finance could be a short term solution and it’s not as expensive as some think.

Securing bridging finance for a project can be done very easily and quickly plus it is not a requirement to prove income. This facility used to be known as self-certification of income. Lenders now simply deduct the loan interest payable from the sum being borrowed. This means there are no monthly payments to make and therefore the lender has no need to confirm income levels.

Bridging finance is becoming ever more popular with the self-employed as they see this form of funding quick, efficient and cost effective. Over the last 6 months we have secured deals for the self-employed for a variety of reasons and we are pleased to say a “clean” case completes within 7 days on average.

Common uses of bridging

-        Purchase of residential property

-        Purchase of commercial property

-        Purchase of building land

-        Raising capital to pay taxes

-        Buying a property at auction

-        Inheritance tax planning

Can we help?

If you need some assistance or require advice please do call one of our fully trained advisers. We are here to help and look forward to being of assistance.