Applications increasing

September this year has seen record applications for bridging finance and we can tell you now October was even better. Many investors are turning to this form of loan due to the speed and efficiency it offers. Speaking to one of our regular buy-to-let clients he said “I have been using bridging now for over two years and the discounts I have achieved on the purchases are truly remarkable”. “One of the things apart from the speed to complete the deal I like is it gives me breathing space”. “Once the property has been purchased with the bridging loan I can then relax and get the correct buy-to-let mortgage in place at my pace”.

One very happy client indeed and we are pleased to say we have plenty more just the same as that. Bridging costs may look at first glance expensive, but over the long term with the discounts that can be achieved on the purchase price you will be surprised. We are always getting asked what bridging finance can be used for and the answer basically is anything which makes sound financial sense.

Some regular bridging uses

Tax Liability

Bridging is popular when a tax demand is received and the amount required cannot be raised in the given timescale. A bridging loan can be put in place and secured against the business premises or an alternative property.

Inheritance tax

This is not so common these days but can arise when a client is left a sizable estate and includes freehold property. Rather than sell the property to pay the tax a bridging loan can be secured against the freehold until a financial solution can be reached.

Site acquisition planning or development

This form of funding is one of the most popular with our company as funds can be made available within just 72 hours. Makes the deal a lot quicker and efficient and buys the purchase valuable time to place correct long term funding.

Need some help?

If you need assistance with your next loan please do call to discuss your requirements we are always happy to help.