What is bridging finance?
Bridging finance is a way of purchasing property or raising funds quickly, in some circumstances as quickly as 48 hours, for those financial needs that are urgent or potentially short-lived.
Otherwise known as short-term finance or auction finance, bridging loans can be useful to businesses in any number of different circumstances, including;
Property development or conversion
Property purchase or re-finance
Bridging loans are typically used to pay for something urgent whilst waiting for funds to become available from another project or source. Within the property market, they are often used to raise funds to buy property, or refurbish a property.
Typically a type of short term lending, terms can ranges from weeks to years, depending on the lender and project. Bridging is a form of secured lending.