Bridging finance is a loan which can be used to fund either property purchases or business finance needs on a temporary basis. It is a short-term, secured loan which can be used when you are buying a new property and have to move quickly or are yet to sell your current property. If you are a business owner, it can be used when you need help with temporary finance – i.e. you have no cash but are expecting to receive funds soon. Within the property development process, it is commonly used to cover the difference in timing of funding.
For property developers the benefits of using bridging financing are that loans can be fast and flexible so that developers can act quickly to take advantage of opportunities that arise, securing property deals and helping in emergencies. Furthermore, being able to fund the refurbishment costs is also an added feature many bridging lenders offer.
When you are borrowing funds for bridging finance it is important to be aware of the fees involved. Different bridging finance lenders require different fees. These will impact on the profitability of your project. This is where an experienced commercial finance broker can advise you and let you know if your project is viable.
At Wharf Financial Services our brokers have many years’ experience in dealing with a large variety
of property development and refurbishment projects. We advise you on the best terms to suit your
We can facilitate:
- Auction Purchases
- Chain Breaks
- Property Refurbishments
- Property Developments
- Trading Business Bridges
If you are seeking bridging finance please get in touch to see how we can help you.