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Short-term finance secured on land or property.
It is designed to be short-term finance based primarily on the value of the property or land that can released extremely quickly.
When might somebody need bridging finance?
Examples of the multitude of uses for bridging finance could include:
- Property development
- Business opportunities
- Auction purchases
- Avoidance of a financial crisis such as repossession or bankruptcy
- Emergency cash release e.g. for tax bills.
How much can normally be raised with bridging finance?
First charge residential bridging: Up to 70% of open market value (up to 100% of purchase price)
Second charge residential bridging: Up to 60% LTV.
Commercial property: Up to 70% of open market value (up to 100% of purchase price)
Land with planning: Negotiable
Bridging Finance is arranged by introduction to a third party
Commercial/Secured and Bridging Finance is arranged by introduction only.
Commercial Mortgages are not usually regulated by the Financial Conduct Authority.