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Bridging and Short Term Finance

When you’re faced with a short-term financial emergency, bridging finance can be the perfect solution. Bridging loans are a type of short-term loan that is used to cover the gap between the purchase of a new property and the sale of the old one.

They are typically used by people who need to move quickly but don’t have the funds to do so. Bridging finance can help in these situations by providing the funds needed to complete the purchase.

If you’re facing a short-term financial emergency, bridging finance should be your first choice.

Common needs for a Bridging finance and short-term financing loans

The typical reasons for obtaining bridging finance are to:

  • Fund new house purchase whilst you wait for your existing property to sell
  • Purchasing a property at auction
  • Flipping properties (purchasing a property, renovating it, selling it)
  • To fund a commercial purchase / commercial development
  • To fund a restoration project

Whatever your needs, we will find the finest financing for you. Because short-term bridging loans have a limited duration, they might be complicated and costly to acquire, with higher interest rates than ordinary loans.

They can be helpful in expediting a property purchase when banks are sluggish, prior premises are not sold, or if you’re buying at auction.

There has been an increase in alternative bridging lenders on the market since banks and building societies have restricted financing due to the financial crisis.

Rates on equity loans are often high, and there may be significant legal and administrative expenses. We can utilise our experience, understanding, and relationships to get you the finest bridging loans for your needs while also ensuring that you understand the costs, details, and consequences of the loan.

How IMS can help you with your bridging loan needs

We generally provide bridge loans to landlords, property developers, and asset-rich borrowers for investment, buy-to-let, and development. However, if the banks are taking too long to review larger home loan applications and you risk losing your purchase due to delays in processing them, we can assist with private individuals’ bridging loans.

How long can you take a Bridging Loan?

Bridging loans are typically used for a period of between 6 and 12 months. This gives you enough time to sell your old property and complete the purchase of the new one. If you are unable to repay the loan within this time frame, you may be required to pay a higher interest rate.

To find out more information about obtaining a Bridging or Short-term loan, contact a member of our team today.

Book in online to speak to one of mortgage advisors here   

If you would like to speak to one of the team then please call 01869 248 339 or email us at info@imsinternet.co.uk

  • Contact us

    Book in online to speak to one of mortgage advisors here   

    If you would like to speak to one of the team then please call 01869 248 339 or email us at info@imsinternet.co.uk

  • Book an appointment

    Book an appointment with one of our mortgage specialists at a date and time of your convenience. Initial consultations are free and last approximately 30 minutes. Please book your appointment by clicking the button below.

     

The IMS Property Group is an official authorised member of the National Association of Commercial Finance Brokers (NACFB), a trade body for over 1600 commercial finance brokers and lenders across the UK.

As an NACFB member, we are required to have Consumer Credit Permission, Professional Indemnity Insurance, a Data Protection Licence, and a strong track record with nationally recognised lenders.

  • Book an appointment

    Book an appointment

    Book an appointment with one of our mortgage specialists at a date and time of your convenience. Initial consultations are free and last approximately 30 minutes. Please book your appointment by clicking the button below.

     

  • Contact us

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