A Bridging Loan is short term loan of normally one to 12 months, which is used to allow individuals to move quickly when the timings between a purchase and sale doesn’t fit 100%. It means that property chains can continue if there have been hiccups along the way.
It can also be used by Property Developers who are looking to finance a property which is deemed “un-mortgageable” in its current condition.
The loan is secured against an asset, but due to its short term nature provides more flexibility than a longer term mortgage. At Alton Mortgages we work with our reliable, efficient Third Party specialist Bridging companies to ensure we meet our client’s requirements.
It is possible to obtain Bridging Finance on a variety of projects so if you are looking for the flexibility that this offers please give us a call on Tel: 01628 560820