Bridging finance offers a range of opportunities for your clients. But from what we’ve seen, some brokers approach this type of lending with caution. This is mainly because they’re unaware of how exactly it can help their clients, and may even turn cases away as a result.
Well, we want to put a stop to that.
Our aim is to emphasise the solutions this type of lending can bring, showing how simple the process is so that you may never have to turn another case again – which is good news for your clients.
To help you understand how bridging finance could help, we’ve put together six different case scenarios where this type of loan could come in handy. How many are you aware of?
Samantha needs to replace the flooring, windows and bathrooms of two properties in her buy to let portfolio. Bridging finance provides access to the money she needs for six months, to ensure the work is completed on time.
Developer exit finance
Georgina is a property developer whose most recent project has been funded utilising development finance. However, not all units have sold and she’s keen to move on to her next project. She could use a bridging facility to clear existing, potentially expensive development finance, and release cash to move on to the next project.
Seizing the opportunity
Vikki is an experienced investor in residential and commercial property with a sizeable portfolio and often uses bridging finance to access cash quickly – to take advantage of repossessions and wider market opportunities.
Adrian is the owner of a residential property which he’s looking to convert to flats. He needs to raise capital to get the work done quickly, maximising his return. Bridging finance means he is able to do so, and once it’s converted he’ll move on to a standard term loan.
Ensuring a ‘broken chain’ doesn’t mean a lost deal
Rob is looking to invest in a new buy to let property. Shortly before exchanging, his buyer pulls out. He takes out bridging finance to secure the new property whilst at the same time remarketing his existing property.
Jim has the opportunity to buy a 6 bed HMO at auction as a great addition to his portfolio. He needs short-term finance to cover the loan at 75% LTV to ensure he achieves the 28-day deadline.
Do you have a client that could benefit from bridging finance?
Get in touch by calling 01277 508 951 or click to make an enquiry today.