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Versatility of bridging finance proves key to its success

On November 17th, 2011, posted in: Recent Finance Deals and Articles by

The popularity of bridging loans has been on the rise ever since the economic downturn begun, and now the versatility of the funding medium has been revealed to be one of its greatest assets, according to the Financial Times.

Used by homebuyers keen to purchase their new home but finding it tough to sell on their previous property within the necessary timescale, bridging finance is also used by property investors to pay for the completion of their developments.

Those investors who are interested in rental properties are also making use if bridging finance to fund properties that are in need of refurbishment, as they may not be able to secure buy-to-let funding prior to a rental valuation being carried out.

Other situations in which bridging loans can be utilised includes auction property purchases and non-property related purchases such as project finance or short-term capital funds raising.

As many bridging lenders can complete on a funding deal within a very short time period – sometimes as little as 24 hours from application to approval – the financing is particularly useful to those who need to move fast on a deal to prevent losing out altogether.

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