Bridging Finance Explained

Bridging finance is used to provide a fast flexible solution to buy residential property, as well as commercial assets and land. With lending terms deemed to be more flexible than conventional borrowing, bridging finance is often considered as an alternative when lending circumstances or needs are a little different.

Often preferred for renovation-heavy properties or uninhabitable properties, which don’t meet regular mortgage lenders’ criteria and may therefore be deemed unmortgageable. They can also cover additional costs, including legal fees, stamp duty, and auction fees.

However, to secure this fast and flexible form of finance, with often more complex procedures and possible tax implications, it is advisable that your solicitor or lawyer understands the process and the paperwork, and can work to the quick conveyancing schedule required by both the client and the lender.