Reasons to Use a Bridging Loan
Bridging loans can be applied for under a wide variety of circumstances and for many different reasons. At First4Commercial we specialise in providing our clients with access to myriad commercial bridging loans, as well as domestic mortgage solutions.
The main reasons that people apply for bridging loans are:
- Property investment projects
- But-to-let property purchases
- Development projects
Over recent years, with the long process that high street banks, private banks, and other traditional lenders have implemented, there has been a shift towards bridging loans as a legitimate alternative to mainstream lending sources, especially for large home loans.
A bridging loan is a tempting option, especially if you are looking at a property that you really want to add to your portfolio, but it has a short window with which to successfully acquire it. In these circumstances, instead of missing out whilst you wait for the deposit to become available, a bridging loan gives you the funds immediately, beginning the process of purchasing the property, and allowing you time to get together the money to complete the transaction and pay back the bridging loan.
There is a careful balancing act to tread when taking on a bridging loan, whatever the reasons you have for seeking one. By talking in-depth with the expert team we have here at First4Commercial, you’ll be provided with a wide range of options and lenders that can really help you with your specific situation and financial history.
To find out more about the First4Commercial service, contact our customer service team today on 01277 620 083 or firstname.lastname@example.org.