Bridging Finance in UK

Bridging finance is useful for literally bridging the gap when you need funding but can’t get a standard mortgage. Bridging is short-term and usually arranged much faster than standard mortgages. Borrowers must have an exit strategy before taking on a loan because bridging, while cheaper than in the past, still works out more expensive than a standard mortgage. Investors buying rundown property at auction often turn to bridging to finance the purchase because it can be arranged quickly, allowing the buyer to do the necessary works to get the property up to scratch before it is sold on or rented out. Bridging is also useful for owner-occupiers who wish to buy a new property but have not sold their own home; bridging gives you time to find a buyer while ensuring you don’t miss out on your next property.