A bridging loan is a short term funding solution that can be used until a long term solution has been found. A bridging loan is for almost all land or residential property in the United Kingdom regardless of whether that property is habitable or not. Bridging Loans are usually related to property, you can use the money for almost anything as long as it is legal and has been agreed upon by the lender when the loan was first approved.
What can a Bridging Loan be Used For?
Bridging Loans can be used for a wide variety of purposes such as:
- Buying property. Are you planning to buy a home at auction or slightly short of money for your ideal home? A bridging loan can be used to get an injection of cash fast.
- Refurbishing your property. A bridging loan can allow you to refurbish your home or business.
- Grant you access to a buy-to-let investment. A bridging loan can prevent investment opportunities pass you by due to a lack of funds.
- Funding your business. A bridging loan can be used as a short-term way of funding your business until it’s on its feet.
How to apply for a Bridging Loan?
Bridging loans can be applied for from many money lending businesses and you can be in the process of applying for your loan within a few hours of making contact. When used right, a Bridging Loan can be an excellent tool for those who need a little help getting to where they want to be.
So if you would like to know more about UK Bridging Loans or want to apply for one then just click on the link.