Have you got a great property investment opportunity at your fingertips but wondering where to get funding to make your dream a reality? Property bridging finance is the solution you’ve been searching for in order to secure and complete your next property development project.
Bridging finance for property developers is a short term loan that will generally span over 3 to 6 months, most often covering the time between 2 property transactions. Property developers use bridging finance as an interim credit facility to purchase a property or improve cash flow while other finance is being arranged.
An example is a property developer finding an excellent investment opportunity at an auction for a block of flats. Their intention is to revamp and let out the flats. They make use of a property bridging loan through New Heights Finance and can undertake refurbishment. The loan is most often paid up by the time long-term financing is established.
Banks have made applying for property development finance increasingly difficult, so banks have been replaced by private lenders. Our lenders are highly-skilled and knowledgeable professionals to properly assess the feasibility of your property development project fairly and accurately.
A good credit history and experience in property development will work in your favour when being assessed by lenders. If your intention is to bid on a property, it’s recommended to request an agreement in principle before the auction to hurry along your bridging loan application.
Property bridging loans are flexible and fast short-term loan facilities that can help you move your property development project to the next stage swiftly. Money can be arranged and in your hands within days, giving you the power to invest in your property development business and your future.