finance differs slightly from a commercial mortgage in two key ways:
Bridging loans are meant only to ‘bridge’ the gap
between you selling a property, or securing longer term finance once a project
is completed. Therefore, they will typically only allow a maximum duration of 6-12
months before the money has to be repaid.
Bridging loans can have a far quicker application
process than a commercial mortgage – allowing you to take advantage of a
these key differences you should be aware that a bridging loan is still a
mortgage in that it is secured on the property you are purchasing. That means
that if you fail to keep up repayments on a bridging loan – the property could
The repossession process
for a bridging loan can be much swifter than repossession on a regular
should also note that bridging finance costs roughly the same amount to arrange
as a commercial mortgage – and the finance you are receiving is going to be for
a far shorter term. So only consider bridging if you will be unable to secure a
commercial mortgage, or you expect to only need finance for a relatively short
initial term (while you renovate a property to sell for instance).
callback to arrange bridging finance
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