A bridging loan is a short-term finance option typically used in time-sensitive circumstances, often ‘bridging’ the gap between transactions, for example, between the selling and the buying of properties. These are ideal for clients that are looking to up-size or down-size the family home, property investors looking to refurbish their properties or a client wanting to secure their dream home before they’ve completed on their sale.
As it stands, the London market sees properties selling for £1M+, with sales sometimes taking several years to complete. With this in mind, bridging loans are a favourable alternative for clients that want to secure funding for a property or for refurbishment costs in a fraction of that time.
As Associate Director, Chris Lloyd, explains in this insightful video, we at Enness can make bridging finance a possibility for you. Whether it’s residential or commercial, we have arranged bridging loans in the space of just two weeks, with lender fees and interest added to the loan and typically no early re-payment charges.
If you’re looking to secure a bridging loan at market leading rates, our bridging experts would be happy to help.