Bridging Finance

Specialist Bridging Loans – Raised on Residential and Commercial Property

Life Financial Solutions are superbly placed in the market to source and arrange the most flexible short-term lending solutions from all the leading lenders. We have exclusive relationships with key individuals at these lenders which enables us to arrange finance not only where other brokers can’t but also in a timely fashion suited to our clients needs. We put our clients' first!

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What is Bridging Finance?

A Bridging Loan is a short-term solution to your financial needs. If you need to raise funds for either business or property, then this could be a suitable option for you. Loans can usually be arranged between £100,000 to £10m. Listed below are the various ways in which Life Financial Solutions can assist our clients with their bridging needs.

 

Purchasing a Property at Auction

Purchasing at Auction is becoming a popular way of buying an investment property. It requires the Buyer to complete the transaction within 28 days of exchange. Exchange usually takes place on the day of the Auction and requires a 10% deposit to be paid. It is not generally possible to obtain conventional mortgage finance in such a short space of time, so a bridging loan can be arranged to assist with the purchase (typically 7 to 10 working days). Once the property purchase is complete, a more conventional mortgage can then be obtained in order to refinance and repay the bridging loan.

‘Uninhabitable’ Property

When a property has no working kitchen or bathroom, central heating or running water, mainstream lenders will not be able to lend until the works have been completed on the property, as it would be considered uninhabitable.

At life Financial we can arrange a bridging loan in this scenario. Once the refurbishment work is complete then the property can either be refinanced to a conventional or specialist mortgage or it can be sold, to repay the loan.

Property Development & Planning

You may want to use bridging finance to assist in the purchase and/or renovation of a property which is then either sold or refinanced through more a conventional lender. The development could involve anything from light refurbishment through to complex structural changes to the property.

Bridging finance can also be used against land or property in order to obtain planning and secure development funding. It is worth noting that part-complete projects can also be purchased with a bridge.

Broken Chain

Where you are still in the process of selling your existing residence but want to purchase a new property, a bridging loan will enable you to secure the new property before the sale of your existing property completes. The bridging loan can be secured against the new property or any other properties owned by you. In some cases, we have been able to raise the entire amount to secure our client their new property.

Become an Introducer

We have significant experience and an in-depth knowledge of the bridging market which enables us to understand your funding requirements and provide the appropriate solutions.

If you are not already a registered introducer and would like to know how we can benefit you and provide your clients with exclusive and market-leading bridging finance, or for further information on our proposals, or to discuss any potential cases, please contact us.