What can a bridge loan be used for?
Again, there are a number of different uses for a bridging loan and in many cases our clients with a poor credit history may use them in order to temporarily shore up their finances, for example. Commonly they’re used in the property market for short term improvements, but there are plenty of other reasons a client may take out a bridging loan.
Bridging for invoices
Many commercial customers struggle with cashflow if they’re waiting for invoices to be paid by their customers. A bridging loan can cover this gap for our clients until their invoices are paid and this can cover things like payroll and stopping bankruptcy petitions.
Property Auction Development Loans
A lot of our clients will use a bridging loan in order to purchase an auction property and use it for development. In many circumstances when buying from an auction the full payment needs to be made within 28 days, so they’ll use a bridging loan to cover the initial period before arranging a longer-term arrangement such as a mortgage.
Speak to a bridging loan advisor today
Our team of bridging loan advisors are experts in their field and have arranged millions of pounds worth of finance in the past for our clients.
Over the years we’ve spent time cultivating exclusive relationships with some of the best finance providers in the country to ensure that when our clients come to us looking for a bridging loan they’re offered some of the best rates and terms available.
Our panel of lenders know that when we submit an application to them, they’re getting quality applications that have the best chance of approval, and that we work closely with our clients in order to help them from start to finish.
We know that with a bridging loan speed is of the essence, and so we work closely with you from the start of your application to the end, helping you meet the criteria as quickly as possible with things like sorting out security, business plans and exit strategies for your bridging loan.
Further to that, we’re also able to offer our clients some exclusive deals with our panel of lenders due to the relationships we’ve built with them over the years, allowing us to provide our clients the best offers on the market for a bridging loan.
We also know that a bridging loan might not always be the best solution depending on your circumstances, so our brokers and experts have a wealth of knowledge about potential alternatives to a bridging loan, if it’s not right for you. They’re able to take the time out to ensure that you’re getting the best possible advice when it comes to a bridging loan.