Many more people are taking advantage of house price growth and rising rents to launch into investment properties or buy- to-let, and taking out a bridging loan to fund the project is the ideal way to help finance it. Bridging loans can provide the additional finance to be used for refurbishment, to help achieve completion or to buy discounted property at auction. As long as thereb s a clear exit strategy in place, a bridging loan is a quick and easy way to secure finance.
So when might bridging finance for a property purchase be suitable?
Banks can be tricky about buildings requiring redevelopment, and are unlikely to lend money for properties needing renovation. The big advantage of bridging finance in property is that there are no restrictions on buying for renovation. Investing in refurbishment means that once the property is improved, youb ll benefit from either higher rental income, or re-selling for profit. As many bridging lenders offer rolled up or retained interest payments, then neither do you need to worry about monthly repayments.
If youb re buying at auction, then quick bridging finance will help you complete within the standard 28 days, and properties being sold at below their market value can also be secured before theyb re snapped up. The beauty of bridging is in the flexibility. So property investors can move fast, and increase and improve portfoliob s, without stepping foot in the bank. Contact one of our qualified advisors for more advice on bridging for property b web ll help you find a way.
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