Bridging finance can be an invaluable tool for funding all types of property refurbishments and renovations. Issued in the form of a short-term secured loan, bridging finance is ideal for 'bridging' temporary financial gaps at an affordable price.
If you are interested in funding a property refurbishment of any kind with bridging finance, call the team at bridgingfinance.com anytime for an obligation-free consultation.
A refurbishment bridging loan (or bridge loan) is a specialist type of bridging loan issued specifically for renovation and refurbishment projects. Property refurbishment bridging loans differ from development finance in that the funds are released in a single lump sum and the eligibility criteria are far more flexible.
For more information on the benefits of bridging finance for property refurbishments or to discuss your requirements in more detail, contact bridgingfinance.com anytime for an obligation-free consultation and a quick quotation.
Bridging loans can be used for a variety of purposes, with the following being the most common:
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Every member of our team is highly trained and experienced in property and specialist lending products, ensuring our clients get the best products at the best rates.
We have access to many specialist lending products that can be tailored to each individual’s needs. We can offer flexible, fast, and cost-effective loans for clients with specific requirements. Deal directly with the lender; no middleman!
Our track record speaks for itself through our thousands of satisfied clients. Our experience and unrivalled customer service mean that we have many returning clients with whom we have built a long-lasting relationship.
We use the latest technology to ensure simplicity, speed, and ease for our clients, as well as highly trained staff to ensure everything runs smoothly.
We can tailor loans to suit whatever property funding needs our clients may present. With access to a wide range of lenders, we are able to offer specialist loans at competitive rates.
Bridging finance for property refurbishments can be arranged within a few working days and with no upper limits on how much can be borrowed, charged at an interest rate as low as 0.5% per month. The full balance on a refurbishment bridge loan is usually repaid six to 18 months after the loan is issued, either upon the sale of the property or by transitioning the loan to a longer-term repayment product.
The main benefits of bridging finance for renovations and refurbishments are the speed and simplicity of the facility. Bridging finance can be arranged in a matter of days, making it ideal in time-critical situations with strict deadlines. In addition, there are no specific restrictions on how refurbishment bridging finance can be used. The loan itself can be secured against almost any type of property, including the kinds of non-standard (aka unmortgage able) properties mainstream banks are unwilling to lend against.
Repaid promptly, a low-cost bridging loan can be a uniquely affordable facility. Applicants with poor credit and/or no formal proof of income can also qualify for bridging finance if they have assets of sufficient value to provide security for the loan. The applicant's home (or business property) is typically used as security, enabling them to borrow up to 80% LTV against their equity.
Bridging loans for property refurbishments are typically separated into two main categories:
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