Propifi are here to assist companies and inviduals with short term financing until permanent financing is secured.
Before the credit crunch in 2008 bridging finance was only offered by a small number of specialist lenders.
As mainstream banks tightened up their lending criteria, a gap in the market developed to assist those homeowners and landlords looking for short-term finance. Bridging provided quick access to finance for those wishing to buy a new property before completing the sale of an existing one. Bridging finance has now evolved to provide property developers a similar advantage.
The UK bridging market is currently worth £4.5bn, a large proportion of this relates to property developers looking to progress developments with bridging finance.
What can a Bridging Loan be used for?
A bridging loan can be used for many things including:
- Purchase Commercial properties
- Purchase land for development
- Purchase Buy to Let residential properties
- Purchase properties in need of repair
- Purchase another property whilst pending a sale
- Equity release to develop a property
Contact us now to find out how we can help you