BRIDGING LOANS EXPLAINED
A Bridging Loan is usually a type of short-term loan. It’s best thought of as a temporary loan which will get you from A to B, until you can either clear the loan in full or secure a more permanent form of finance.
That’s where the ‘bridge’ idea comes in. to get you from one stage to another. It can sometimes take weeks for some lenders to complete a short-term loan application. However, Goldmann’s can provide you access to bridging loan providers that can have a solution ready for you within 24-48 hours.
A speedy bridging finance solution can provide borrowers with quicker access to capital with the minimum amount of red tape.
A Bridging Loan is essentially a short-term loan that is often arranged within a short time frame and usually to an individual or company and secured against residential or commercial property. The defining characteristic is that it is a loan that bridges the gap to an exit, which is usually a refinance or sale of the asset. For businesses, a Bridging Loan is generally used when a company requires additional funds to help boost its cash flow for acquisition purposes.
Bridging Loans for property can be used to break the property chains and provide a short-term finance solution where there is a delay between the completion dates. Another typical reason why bridging loans are used is when properties are purchased at auction. Developers and landlords can use a bridging loan for development or renovation purposes. In most cases you may need finance fast to move quickly and capitalize on a particular opportunity.
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