A Brief Guide to Commercial Bridging Loans
A bridging loan for commercial principles is funding secured to literally ‘bridge’ the gap that often occurs between the property transfer process beginning and the final transaction taking place. It ensures that the purchasing party does not miss out on a desired property. There are a couple of reasons that are traditionally behind the reason for commercial bridging loans being acquired by a business owner.
The first reason that bridging loans are required for many is if there is a chain of property involved. This is something that is often referred to in residential properties, but is equally valid when discussing the purchase of commercial property also. Another reason that commercial bridging loans are required is when new business premises are being funded by the sale of another building. The loan allows the purchase to go through whilst the funds are released from the sale of the other commercial property.
Without the assistance of commercial bridging loans for the purpose of securing work premises for a business, many transactions would fall through due to a lack of funding, or delays in property chains that so often take place.
If you are interested in talking to a team of dedicated bridging loans specialists, with a view to purchasing a commercial property, contact First4Commercial today. We have the skills, the know-how and the experience to help you secure funding for your dream commercial move. Call our team on 01277 620083 and we’ll be happy to offer you advice and guidance.