Abacus Business Protection Ltd

Warning: Your home may be repossessed if you do not keep up repayments on your mortgage.

A fee will be payable on completion of your mortgage which will vary depending on the level of work involved. This will typically be between £395 - £995.

What is Bridging Finance?

Bridging Finance is a short term loan, normally of between three and twelve months duration, for which the interest payable is far higher than for long term finance arrangements. Notwithstanding this, it is an essential form of funding that can enable an individual or company to achieve their goals if used wisely and sparingly.

For example?

A typical example of the use of bridging finance is for the purchase of a property at auction where the timescale for completion may not allow a suitable mortgage to be put in place immediately. The property may also require significant refurbishment before being deemed as suitable security for a traditional mortgage lender. A traditional example of the use of bridging finance is to enable a home mover to complete the purchase of a new property before the sale has completed on the former home. Recent uses of short-term funding by clients have ranged from the payment of a tax bill to avoid bankruptcy proceedings to raising funds to pay for a wedding!

As it is only designed to be a short-term loan it is important to have a defined exit strategy. In other words, be aware of when you need to repay the loan and make sure that you have the funds available to do so, otherwise you may risk losing the property that has been used as security for the loan.

Development Funding.

Development Finance is effectively an extension of the Bridging Finance principle in as much as it is still short-term funding, but the amount required is normally released in stages as the development progresses. A development could be classed as anything from a barn conversion to the construction of multiple properties. Applications can be for either residential or commercial use.

Let us assist you.

If you would like to find out more about short-term funding options such as Bridging & Development Finance then please give us a call or fill in the enquiry form and we will contact you.

Please call us to discuss your requirements or complete the enquiry form and we will contact you.

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