Bridging Loans
Bridging is more popular than ever in this current market with solutions to complex situations and it is not uncommon to get more than one bridge at any one time for the same client when they might have a portfolio and they’ve seen an opportunity in this current climate to purchase a property quickly and need bridging for this. Due to the propositions available and client not wanting to miss out, they might not have or don’t tend to have the funds in place. Therefore the solution for this is to not only bridge the new property that they wish to purchase but to also bridge an unencumbered property or to refinance the deposit quickly. With some lenders this can even be done with an online valuation which makes the process quick and simple. An important aspect to consider is your exit plan so while you are focusing on the bridging, you need to prepare your exit strategy. If your property has sold, you should make sure the financial figures stack up. Once you have acquired these assets, you exit the bridge and if completed properly you can understand why bridging is more popular than ever.