Once upon a time, bridging finance used to be something people only took out as a very last resort as it was considered very expensive. But nowadays lenders offer a wide range of bridging products to cater for almost any scenario that requires short term property backed finance. There is a wider choice of lenders and with increased competition, bridging rates have come down and can now be seen as an attractive alternative in the short term.
Bridging finance is a short term loan, secured against property or land and is used to “bridge” the gap, until longer term finance can be arranged or the underlying security is sold. The key to the success of a bridging loan is to ensure that a viable exit strategy is firmly in place upon application.
At Malleny we have a successful track record in securing bridging finance that meets the customer requirements. So if you want to explore bridging finance and how it might work in your particular situation – come and talk to us for independent advice.